Livspace raises $8mn to expand across metros in India

BANGALORE, INDIA: Livspace has announced that it has raised $8Mn, in an internal round of funding.

This round of funding comes within months of the launch and the Series A round of 4.6 million. The funds will be used to accelerate Livspace’s momentum across product and design innovation, user engagement on mobile and web, and revenue growth.

All existing institutional investors; Helion Venture Partners, Bessemer Venture Partners and Jungle Ventures, participated in this round.

The round also saw investments from prominent angels, including Gokul Rajaram, who had recently joined as a special advisor.

Livspace will utilise the funds to expand across metros in India, enhance design content and technology, hire senior level talent across verticals and build innovative mobile and designer oriented products.

Launched in December 2014, Livspace has already acquired two companies; DezignUp and Dwll.in.

Anuj Srivastava, CEO and co-founder of Livspace said, “It has been a high octane past few months since the launch of Livspace in December 2014. We’re seeing strong growth and business fundamentals across the board and have created an enviable content, and community driven commerce business in the home design space for the first time in India. We're inspired by the confidence shown in us by Bessemer, Helion, and Jungle and are committed to creating a world class internet company out of India.”