Magazine : 
LivSpace in Discussion with Investors to Raise $200 mn
LivSpace, Home décor and interiors platform is with a $200 million fresh fund infusion from a bunch of investors. The startup has secure a cumulative capital of $228 million till now. With this, its valuation could rise 2x-3x to $1.5 billion from the current $500 million.
"Our growth has been unparalleled in the segment and we are very well-funded currently to support our growth plans. We have a strong balance sheet, owing to our platform, strong unit economics and the segment we operate in, which also enabled us to scale our operations quickly and aggressively across markets. The fact remains, we are a startup and, like any other startup, funding conversations are an always-on process," a spokesperson said.
The development was first reported by Entrackr, referring to LivSpace’s regulatory filings in Singapore where the company put in nearly $60 million in its holding firm, LivSpace Pte, with Saudi Arabia’s retail behemoth Alsulaiman Group (AG) leading the fund infusion.
This also signals Indian startup’s expansion to the Middle Eastern markets, apart from India and Singapore.
In September 2020, the platform raised $90 million in an oversubscribed round led by Kharis Capital, the Switzerland-based investment firm Venturi Partners, which also included participation from new investors, including FFP, Peugeot Group’s holding company, and EDBI. Existing investors Ingka Investments, TPG Growth, Goldman Sachs, UC-RNT and Bessemer Ventures also participated in the round.
The company had earlier said it quadrupled its revenue, doubled its margin, and successfully established itself as the market leader in Singapore. The startup also claimed to hit a gross revenue run rate of over $200 million in February 2020, and is projected to grow into a $500 million business in the next 24-30 months, with India operations expected to be profitable in 2021.
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