Indian startup Livspace raises $70 million in funding

The Indian startup environment seems to be going great. One of the latest startups to receive big bucks is called Livspace. It is aimed at providing solutions to ameliorate home renovations and interior design. This is a Series C round of funding which was led by Goldman Sachs and TPG Growth with Jungle Ventures, Helion Ventures, and Bessemer Venture Partners also participating in the round. Livspace was founded by Anuj Srivastava, a former employee of Google and Ramakant Sharma, who has worked in the Indian e-commerce company Myntra.

Mr. Srivastava wants his company to be an integrated solutions provider for all the needs of home renovations and interior design. Its goal is to create an ecosystem for customers, designers as well as suppliers to have a seamless platform for communication and transaction. Moreover, by forming an interconnecting network of relevant professionals, Livspace wants to optimize the entire home décor and renovations industry. Furthermore, the company goes the extra mile by mapping buildings in cities to create a virtual 3D rendering of buildings and homes to enable customers to view what their homes would actually look like.

In addition to this, Livspace also operates brick and mortar centers where customers and touch and feel all the materials they are looking to buy. Moreover, these centers will also be a place where buyers can meet designers if they wish. In other words, the company plans to consolidate a largely disconnected market. It currently operates in 7 cities in India and plans to use the money to expand to 13 cities.