Livspace Earmarks US$100 Million for Strategic Assets Acquisition in Home Interiors and Renovation Segment

New Delhi/Singapore, October 10, 2022: Home interiors and renovation platform, Livspace, on Monday announced an allocation of US$100 million to strategically invest in and incubate new offerings, D2C private labels, brand extensions and content destinations across its current geographical markets in the home interiors, renovation and related home improvement segments. 

A press release issued by the company says that, Livspace has deployed part of the allocated capital in acquiring a majority stake in companies such as Qanvast – content destination and mobile platform for home improvement – which connects homeowners and design professionals. 

Livspace is looking at investing in content destinations, direct-to-consumer interior brands and D2C private labels which will help the company consolidate the market and create value across the ecosystem which includes homeowners, design industry professionals, brands and vendor partners. 

Talking about the investment allocation and strategy, Anuj Srivastava, CEO and Co-founder, Livspace said, “As we continue to scale across new segments in existing geographies and enter new regional markets, we are looking for successful businesses and like-minded entrepreneurs that help us scale even faster. We are looking at ideas, technologies and world-class entrepreneurial teams that bring in additional functional expertise to drive better outcomes for all our stakeholders. In line with this, we will aggressively and methodically pursue a build-or-buy strategy to create the maximum value for the ecosystem, deliver the best experience to our customers and ecosystem partners in our journey of becoming the go-to place for all things home.”

The strategy will be spearheaded by Ankit Shah, Chief Strategy Officer, Livspace. Further elaborating on the development, Ankit said, “Today’s macro-economic environment combined with Livspace’s operational excellence and balance sheet strength is driving innovation in the company at every level. This has resulted in exploring new pathways – both organic and inorganic – that will drive both efficient scale and path-to-profitability. The capital and resource allocation strategy will help our business scale faster across markets, grow our margin stack further and create strong defensible moats.”

Over the last three years, Livspace has built the industry’s largest, fastest growing and a sustainable business organising the highly fragmented home renovation and decor industry. The company raised over US$180 million in Series F in a unicorn fundraising round earlier this year, led by KKR.