Livs­pace raises $8m from He­lion, Besse­mer, Jun­gle Ven­tures

The Pak Banker - - COMPANIES/BOSS -

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.

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