Online home interiors and renovation platform Livspace has announced that it will invest Rs 70 crore in its global designer partnership initiative where it plans to invest across segments. This includes onboarding and certifying freelance designers and studios, engagement programs, infrastructure and expansion across top metros to grow its network.
Design partners will get access to Livspace’s proprietary design platform, Canvas, which lets them design better and faster all in one place. Livspace curates designers based on their skills, forte, experience, location, etc. in a bid to ensure a uniform and high-quality consumer experience.
Livspace launched its designer partnership last year and since then the platform has seen 10,000 applications from design partners across the country, and the latest investment is aimed at bolstering the platform and organising the home design industry in India.
“Our vision is to be the largest, most innovative interior design platform and we’re deeply inspired by the overwhelming support coming in from our design partners. It's heartwarming to see freelance designers and small studios utilize the tools and services we have created and watch 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,” Anuj Srivastava, CEO of Livspace said in a statement.
The Livspace design partner community is a diverse group of design professionals, from stay-at-home moms and early graduates exploring entrepreneurship to seasoned design practitioners and studios. Together these partners contribute to 80% revenue at Livspace.
Founded in December 2014, has its presence across Bengaluru, Delhi, Gurgaon, Noida, and Mumbai and claims to have designed over 2,500 homes. Led by Helion Ventures, Bessemer Venture Partners and Jungle Ventures, Livspace has raised over $27 million in investments so far.
The company expects to hit $100 milion annualized revenue run rate in the next 15 months
Livspace recently launched four flagship Design Centers in Bangalore, Delhi, Gurgaon and Mumbai. These centers allow customers to get expert consultation, experience interiors, select materials, visualize their home design in VR, and place an order, all in one place. A sum of Rs. 25 crore will be invested through 2018 to further grow the footprint through smaller-format Design Centers and Experience Apartments.