Online home design startup Livspace invests Rs 70 crore in designer partnership
Online home interiors platform Livspace has announced that it will invest Rs. 70 crore in its global designer partnership initiative. This amount will be used for onboarding and certifying freelance designers and studios, engagement programs, infrastructure, and expansion across top metros to grow its network.
Bengaluru-based Livspace provides services for modular kitchens, furniture, decor etc. They are also present in Delhi, Gurgaon, Noida, and Mumbai. They are already operationally profitable in Bengaluru.
It was in July 2016 that Livspace launched an automation platform to onboard more interior designers as ‘design entrepreneurs’. Through this initiative, freelance designers can work for Livspace from anywhere in the world, by paying a commission. A press release from the company states that within a year of its launch, the platform has seen an overwhelming 10,000 applications from design partners across the country. The designer partners deliver an average order value of Rs 12 lakhs per order.
The latest investment is aimed at bolstering the platform and organising the home design industry in India.
Innovative interior design platform
Launched in 2014, Livspace curate’s designers based on their skills, forte, experience, location, etc.
Design partners get access to Livspace’s proprietary design platform, Canvas, which provides them with business leads, ability to create designs in 2D, 3D and VR, project management, and execution.
Anuj Srivastava, CEO of Livspace, said in the press release, “Our vision is to be the largest, most innovative interior design platform and we are deeply inspired by the overwhelming support coming in from our design partners. It's heart-warming to see freelance designers and small studios utilise the tools and services we have created and see their productivity increase manifold. By 2022, we want to design one out of every 10 homes in Indian metros and our design partner network will be our most valuable asset in that journey.”
Livspace’s flagship design centers in Bangalore, Delhi, Gurgaon and Mumbai, allow customers to get expert consultation, experience interiors, select materials, visualize their home design in VR, and place an order, all in one place. Livspace will be investing Rs 25 crore through 2018 to further grow the footprint through smaller-format design centers and experience apartments.
The Livspace design partner community includes stay-at-home moms and early graduates exploring entrepreneurship to seasoned design practitioners and studios. Together these partners contribute to 80 percent revenue at Livspace. The company, backed by Helion Ventures and Bessemer Partners among other, expects to hit $100 million in annualised revenue run rate in the next 15 months.
