Livespace, the online home design company has raised INR 100 crore from existing investors in its third round of funding.
The round was led by Bessemer Ventures Partners with increased participation from Jungle Ventures and Helion. This round of funding comes within weeks of the launch of the world’s first ‘Home Design Automation Platform’.
The funds will be used to expand operational footprint across metro cities (NOIDA, Gurgaon, Mumbai in 2016 and Pune, Hyderabad in 2017), set up new Livspace design studios with VR technology integration for the best home design experience, expand the design automation platform across thousands of freelance designers in the country, and strengthen the catalog depth, launch new modular products, and further optimize the backend technology.
The home industry is estimated to be anywhere between $25-30B but over 95% of it is unorganized and serviced by turnkey contractors, small studios, freelance designers, and carpenters.