Livspace, an India-based interior design services provider, has raised between $10m and $15m from Ingka Group, a franchisee of ready-to-assemble furniture retailer Ikea, the Economic Times has reported.
Founded in 2014, Livspace operates a one-stop shop for interior design and home renovation, including an end-to-end service that connects homeowners to interior designers, handling the delivery and installation of all furnishings and materials.
The company also produces own-label modular kitchens and wardrobes, and has developed technology to virtually map a space and create 3D renderings of the proposed interior design.
The funding will go toward developing additional products and services, increasing the company’s brick-and-mortar presence and expanding into additional markets.
Livspace had previously raised $70m in a series C round co-led by investment bank Goldman Sachs and TPG Growth, part of private equity group TPG, in September 2018, with participation from Jungle Ventures, Bessemer Venture Partners (BVP) and Helion Ventures.
BVP led a $15m series B round for the company in 2016 that included Jungle Ventures and Helion. The same three had supplied $8m in funding in 2015 together with assorted private investors. Helion and BVP also co-led Livspace’s $4.6m series A round in 2014, participating with Jungle Ventures and various angel investors.
