Livspace raises $8m from Helion, Bessemer, Jungle Ventures
BENGALURU: Home Interior Design E-commerce Pvt. Ltd, which owns online home design start-up Livspace, has raised $8 million in an internal funding round from existing investors Helion Venture Partners, Bessemer Venture Partners and Jungle Ventures, the company said in a statement on Tuesday. Gokul Rajaram, product engineering lead at the US-based financial technology firm Square Inc. also participated in the round. Livspace had roped in Rajaram as special advisor in July.
The company has raised $4.6 million in a Series A round soon after its launch last December. The fresh funds will be deployed to expand across all the metros in the country, enhance design content and technology and hire senior executives besides product and design innovation. "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," said Anuj Srivastava, co-founder and chief executive at Livspace. Livspace was founded in 2012 by tech specialists Srivastava and Ramakant Sharma, former senior executives at Google Inc. and Myntra respectively, and Shagufta Anurag, founder of architectural design consultancy Space Matrix.