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Home interior platform Livspace invests Rs. 70 crore in design partnership initiative
The Hindu Business Line  |  October 13, 2017

Sangeetha Chengappa Bengaluru

Online home interiors and renovation platform Livspace is investing Rs. 70 crore in its global designer partnership initiative with an aim to create 3,000 entrepreneurs in the next 12 months. The company plans to invest across various segments, including onboarding, training and certifying freelance designers and micro-studios, engagement programmes, infrastructure and expansion across top metros, to grow its network.

 

Within a year of its launch, Livspace claims to have received 10,000 applications from potential design partners across the country, of which 1,100 are already working on the platform. The latest investment is aimed at bolstering that number. Design partners get access to Livspace’s proprietary design platform, Canvas, which helps them design better and faster, all in one place. Livspace also provides business leads, ability to create designs in 2D, 3D and virtual reality, and access to thousands of products and service SKUs (stock-keeping units), to enable designers to take up project management on the platform.

 

‘Tech-first design’

 

“We one out of every five applications based on their skills, forte, experience, location, etc, with the view to ensure a uniform and high-quality consumer experience,” Anuj Srivastava, CEO, Livspace, told BusinessLine . “It’s heart-warming to see freelance designers and small studios utilise the tools and services we have created and watch their productivity increase manifold. Livspace is on track to be India’s largest tech-first interior design company in 2018 with an annualised revenue run rate of $100 million in the next 14 months.”

 

Pragna Krishna, a design partner from Bengaluru, said: “I’m able to manage, design and even track my projects with Canvas, Livspace’s tech platform. I get leads on a regular basis and have converted 10 projects this year alone, from 3-4 projects prior to signing up on Livspace.” Designer partners deliver an average order value of Rs. 12 lakh per order currently, and earn commissions on each project converted.

 

Backed by Helion Ventures, Bessemer Venture Partners and Jungle Ventures, Livspace serves as a one-stop interiors destination, that includes everything from modular kitchens, furniture and décor to civil work. The firm currently serves customers in Bengaluru, Delhi, Gurugram, Noida, and Mumbai and has designed over 2,500 homes.