Livspace, an omnichannel home interior and renovation platform, has allocated $100 million to invest strategically and incubate new offerings. This will encompass direct-to-consumer (D2C) private labels, brand extensions, and content destinations across its current geographical markets in the home interiors, renovation and related home improvement segments. 

The strategy will be spearheaded by Ankit Shah, chief strategy officer at Livspace. It will help the company consolidate its market position and create value across the ecosystem, which includes homeowners, design industry professionals, brands, and vendor partners. The strategic partnerships will create new growth opportunities and synergies, given the scale of Livspace’s supply chain and omnichannel distribution channels across markets.

Talking about the investment allocation and strategy, Anuj Srivastava, chief executive officer and co-founder, Livspace said, “As we continue to scale across new segments in existing geographies and enter new regional markets, we are looking for successful businesses and like-minded entrepreneurs that help us scale even faster. We are looking at ideas, technologies and entrepreneurial teams that bring in additional functional expertise to drive better outcomes for all our stakeholders. In line with this, we will aggressively and methodically pursue a build-or-buy strategy to create the maximum value for the ecosystem, and deliver the best experience to our customers and ecosystem partners in our journey of becoming the go-to place for all things home.”

This capital allocation is in line with Livspace’s strategy to create multiple home interiors, renovation solutions and D2C offerings, which serve homeowners across various segments in its markets across India, Southeast Asia and the Middle East.

Thus far, Livspace has deployed part of the allocated capital in acquiring a majority stake in companies such as Qanvast. It is a prominent Southeast Asian content destination and mobile platform for home improvement that connects homeowners and design professionals.  

Over the last three years, Livspace has endeavored to build a sustainable business in the fragmented home renovation and decor industry. It raised over $180 million in Series F in a unicorn fundraising round earlier this year, led by KKR. It has raised around $450 million in capital from global investors, including KKR, Ingka Group Investments (part of largest IKEA retailer Ingka Group), TPG Growth, Goldman Sachs, Kharis Capital, Venturi Partners, FFP (Peugeot Group’s Holding Company), EDBI, Bessemer Venture Partners, Jungle Ventures, Helion Ventures and UC-RNT.

Based in Singapore, Livspace currently operates in over 45 cities across Southeast Asia, India, and the Middle-east region. It also launched operations in Malaysia and the Kingdom of Saudi Arabia in partnership with Ikea and has further plans to scale in these regions. 

In India and Singapore, Livspace claims to have witnessed over 100 per cent growth in the last six months and 400 per cent rise in the previous two years, with close to 70 per cent market share within the organised sector.