Online home decor unicorn Livspace will offer a new offering, Livspace for Business. With this development, the company aims to enter the commercial interior design space. The business-to-business (B2B) offering includes categories such as offices, retail, hospitality and warehousing, among others and helps brands experience, personalise, and purchase commercial solutions.
Livspace has run a few pilots before unveiling the offering. Companies including, WeWork, Decathlon, Toothsi, McDonald's and Domino's were part of the pilot project. The company has a deal pipeline of close to $10 million for the next six months for the offering.
KKR, Venturi Partners, and Jungle Ventures, among others, have invested in the startup. KKR led a $180 million funding round for the startup earlier this year. The round valued the company at $1.2 billion. Livspace has raised approximately $450 million in total from investors. Livspace also believes in the expanding commercial real estate market.
For the time being, the priority is to expand and establish this service in India, as well as to establish an operational presence in more than 40 cities where the company already has a presence.
Ramakant Sharma and Anuj Srivastava founded Livspace in 2014. It claims to have delivered over 125,000 rooms and to have sold over 7.5 million items via its platform. It's also present in Singapore, Malaysia, and Saudi Arabia.
The company recently announced a $100 million investment to establish its own 'house of brands,' as part of which it will invest in and incubate brands and content destinations across markets in the home decor, interior, renovation, and ancillary segments.
The company claims to be profitable in India, with more than 100 per cent growth in the last six months and 400 per cent growth in the last two years. It had a revenue of Rs 320 crore and a loss of Rs 255 crore in FY21.