LivSpace – Changing looks for new houses
LivSpace, Changing looks for new houses, home design and décor startup based out of Bengaluru, founded by three entrepreneurs. One is architect and two IITians namely Shaguftha Anurag, Anuj Srivastava and Ramakant Sharma.
The company assists new home buyers to design, decorate and furnish their new dream home. Customers can pick and choose those looks, created by renowned international designers. LivSpace can also personalize with colour, style and materials the customers choose and get this delivered in their new homes.
The company adopted holistic approach towards customers which makes it unique and extra ordinary. As per company sources, in next few years, one lakh apartments with price tag of more than Rs. 60 lakhs will be in demand. 10-15% of the cost will be spent on design and décor of the new place. It is this market, LivSpace is targeting for sales.
There are companies like Pepperfry, Urban Ladder and FabFurnish who sell loose furniture which will be differential approach that LivSpace has adopted.
‘Interior Decoration is a fun process, however in India it’s a messy affair due to various factors like trusted designers and quality contractors’ say Anuj Srivastava, CEO of LivSpace. The company has in house designers who build the catalogue with database of 5,000 furniture products.
The company has partnered with several well known builders and real estate developers like Mantri group and Prestige group to name a few. Their ‘find your apartment’ feature in their website allows customers to choose the design and décor needed for the apartment once they move in. LivSpace caters in metros like Bengaluru, New Delhi/NCR, Mumbai, Chennai and Hyderabad.
Recently LivSpace received $4.6 million Series ‘A’ funding from three venture capitalists namely Jungle Ventures, Helion Venture Partners and Bessemer Venture Partners.
These funding will be utilized towards developing new products, innovative technology and to generate demand for their products. Rahul Chowdhri, partner of Helion Ventures and Aakash Goel, Vice President of Bessemer India will join the board of LivSpace.
“Home Designing and furnishing is largely serviced by mom-n-pop shops today. The pain point at the customer end is high in terms of reliability, delays and cost overruns. In LivSpace, we found a team which is well placed to solve this problem”, said by Rahul Chowdhri of Helion Ventures.
Aakash Goel of Bessemer Venture Partners said “BVP is keen to partner with companies that leverage technology innovatively to solve customer pain points in industries with large market potential. We are excited to partner with LivSpace in this journey of building world class consumer focused home design and marketplace out of South Asia”.
Amit Anand of Jungle Ventures said “ Jungle has always been a strong supporter of startups from Asia that are building disruptive global models and we can see LivSpace as first of many full stack e-commerce companies start here and go global,”.
This space does have competition; startups like HomeLane, Dwell and Shawprs are going to give a tough competition to LivSpace. Finally customers will have choices to choose, customize design and décor to suit taste and budget.