{"id":820,"date":"2022-07-05T04:49:47","date_gmt":"2022-07-05T04:49:47","guid":{"rendered":"https:\/\/founderlabs.in\/?p=820"},"modified":"2022-07-05T04:49:47","modified_gmt":"2022-07-05T04:49:47","slug":"livspace-a-designed-unicorn","status":"publish","type":"post","link":"https:\/\/www.founderlabs.in\/?p=820","title":{"rendered":"Livspace: A Designed Unicorn"},"content":{"rendered":"\n
One does not stumble upon an out-of-the-box venture idea that has its fingers on the right business pulse. Not at least by default.<\/p>\n\n\n\n
So, when in February 2022, Livspace, a start-up, turned unicorn with $1.2 billion in valuation, it had stacked up more than 10 years of effort, dogged tenacity and a roller coaster journey behind it.<\/p>\n\n\n\n
Now, Livspace, one of Asia\u2019s largest omni-channel home interior and renovation platforms, is present in India and Singapore. It has also stepped into West Asia through a joint venture with Saudi Arabian, Alsulaiman Group. <\/p>\n\n\n\n
The build-up on an idea<\/strong><\/p>\n\n\n\nImage Credit: entrepreneur India <\/figcaption><\/figure>\n\n\n\n
Livspace\u2019s proprietary technology platform connects home-owners to designers, and a host of third-party service providers and product sellers.<\/p>\n\n\n\n
Though the start-up company was incorporated in 2012, in 2015 it fired up a three-pronged aggressive strategy geared towards fast lane traction. Each of the three co-founders took charge of key areas by pooling in their professional expertise. <\/p>\n\n\n\n
Anuj Srivastava, a former Google executive who had product leadership roles in creating Google Maps, Google Commerce and Google Ads, as the founder CEO of Livspace took up the responsibilities of fundraising, operations of the Singapore unit, and coordination of all activities of the company.<\/p>\n\n\n\n
In December 2014, Livspace raised $ 4.6 million and in August 2015 $ 8 million. On both occasions, Anuj\u2019s elder brother Anurag\u2019s Jungle Venture, Rahul Chowdhri-led Helion Venture Partners, Gokul Rajaram\u2019s Block and Akash Goel and Vishal Gupta\u2019s Bessemer Venture Partners participated.<\/p>\n\n\n\n
In partnership with IKEA, the global furniture and homeware major, Livspace took deeper roots in Singapore and also spread its service wings into Malaysia. IKEA was also instrumental in bringing together Livspace and Alsuliman Group, IKEA\u2019s operational partner in Saudi Arabia and the West Asian region. As a matter of fact, Ingka Venture, an investment arm of Ikea, is an investor in Livspace.<\/p>\n\n\n\n
Livspace\u2019s COO Ramakant Sharma, former Vice President (Engineering) at Myntra, second Co-Founder, simultaneously spearheaded three acquisitions in India, which created an operational base for the company in Bengaluru and the later expansion into other cities. <\/p>\n\n\n\n
Acquisition Strategy to Grow<\/strong><\/p>\n\n\n\nImage Credit: Mum and Babies<\/figcaption><\/figure>\n\n\n\n
In March 2015, Livspace took into its fold Design-Up, a marketplace of designing fraternity in Bengaluru. Barely a couple of months later, Livespce took control of Dwill, a network of designers.<\/p>\n\n\n\n
With these acquisitions Livspace built a thriving design community of both designers and homeowners. It is believed that Anuj\u2019s sister-in-law and the third Co-founder, Shagufta Anurag, an architect and interior designer herself, was instrumental in Livspace bringing about an alliance with the dynamic designer community.<\/p>\n\n\n\n
YoFloor, a mobile and virtual reality platform that helped homeowners visualize designs and arrive at their personalised choices, was acquired in the same year.<\/p>\n\n\n\n
Yo-Floor lent Livspace capabilities to let its homeowner clients see through 3D visualisation technologies a prospective design for their homes, even before any action on the property. It also made Livspace an owner of a proprietary technology platform for a start.<\/p>\n\n\n\n
In December 2021, Livspace acquired a majority stake in Qanvast, a similar start-up which had operations in Singapore, Malaysia and Hong Kong in almost the same business space. However, unlike other acquisitions, the activities of Qanvast were kept running independently and separately. The collaboration between the two entities is now limited to sharing of expertise and network.<\/p>\n\n\n\n
Livespace\u2019s latest funding round (series F), led by KKR, brought in $180 million, and valued the enterprise at over magical $ 1 billion. But before that Livspace reportedly was making operational profits. Though the sheer weight of funding, some $ 450 million, powered its growth, the inner workings of the start-up and complementarity of the founders sustained it so far.<\/p>\n\n\n\n
The Growth Path Ahead <\/strong> <\/p>\n\n\n\nImage Credit: News n Release<\/figcaption><\/figure>\n\n\n\n
![\"Livspace:](\"https:\/\/founderlabs.in\/wp-content\/uploads\/2022\/07\/image-1-1024x576.png\")
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