Livspace scouting to acquire AR and VR companies

Bengaluru-based online home interior design startup Livspace is planning to acquire companies related to augmented reality (AR) and virtual reality (VR).

Talking to DH, Livspace co-founder and CEO Anuj Srivastava said, “In terms of future acquisitions, we are looking into areas like AR and VR which are interesting spaces to explore, but there is nothing concrete as of now and we will be able to let you know as and when something materialises.”

Last September, it acquired YoFloor, a mobile platform that offers a virtual trial room for home design. Before that in the same year, it acquired a curated online network of interior designers Dwll.in and online community and marketplace for designers and consumers DezignUp.

“After the acquisition of Dwll.in and DezignUp we have access to about 1,800 to 2,000 freelance designers out of which, we have certified 10-15% of them, which constitutes about 250-300 designers,” Srivastava added.

Recently, the company has raised Rs 100 crore from Bessemer Venture Partners and Singapore-based Jungle Ventures, along with Helion Venture Partners. This is its third round of funding, after raising $4.6 million in 2014, and $8 million in 2015. 

The home design industry is worth $25 billion in India now, and is expected to grow to $35 billion in three years. Home design expense is anywhere between 10% and 15% of the cost of the homes the customers buy.

Livspace was founded in 2012 by tech specialists Anuj Srivastava and Ramakant Sharma, former senior executives at Google and Myntra, respectively, and Shagufta Anurag, founder of architectural design consultancy Space Matrix. It has served close to 1,000 customers till date, and each home has roughly between 150 and 200 products.

The company has over 400 employees currently, and is looking to hire 200 more people in the next nine months.

“Livspace is present in four cities being Delhi (NCR), Bengaluru, Gurgaon and Mumbai, and by the end of this year, we will have four large offices with four experience centres each with their own demand management and fulfilment teams,” he said. Livspace serves customers who have bought new homes valued between Rs 60 lakh and Rs 4 crore. It is also focussing extensively on the remodelling market in Delhi and Mumbai.