When it comes to modernizing the home interiors, people intend to contact creative and experienced minds who can passionately work towards making one’s home beautiful and lively. But it doesn’t mean that the homeowners neglect their budget while revamping their houses. Most of the people look for those interior designers who never compromise with the quality of the material and also offer affordable prices. Keeping that in mind, founders of Livspace, Ramakant Sharma and Anuj Srivastava, launched a company that offers luxurious yet affordable interior décor services.
Interestingly, the story behind Livspace is no less than a great example for all the budding entrepreneurs who are willing to build something that works for long term.
How did it begin?
The journey started when Ramakant Sharma and Anuj Srivastava, two college friends and highly-experienced individuals, decided to renovate their houses. Just like every other homeowner, they wanted to revamp their old house with good interiors but unfortunately, they had an appalling experience. At first, the two men faced a lot of trouble in finding a right professional who could give an end-to-end solution to their problem. And later, both of them realised that even after spending a huge amount of money and time, one could never be sure of a fair price, quality, or even the final result when it comes to home décor.
Moreover, they found out that the interior designing industry is really fragmented, with the important factors like discovering the right professionals, managing tasks coordinatedly, ensuring fair price and quality material being the major pain points that home owners usually face. This is what led Anuj and Ramakant to jump on the entrepreneurial wagon and extend an experience that would truly be satisfying for their customers. Hence, they founded Livspace in 2014 as a complete home interior design and renovation solution which has helped hundreds of homeowners in India so far.
The ultimate success of Livspace
Livspace has carved out a niche for itself in the Indian interior designing industry. Today, the company has grown to become the largest home interiors and renovation platform across the country. Though success was never easy for Ramakant Sharma and Anuj Srivastava, they defeated all the odds and established a name for themselves. Currently, the brand has over 3500 interior designers and more than 450 vendors on its platform. Moreover, when the entire world was facing the difficult times during COVID-induced lockdown in 2020, the company managed to raise $200 million in September that year. Livspace currently serves nine metro cities in India including, Bengaluru, Chennai, Hyderabad, Delhi-NCR, Gurugram, Noida, Mumbai, Thane and Pune and also expanded its services into APAC with its Singapore market entry in October 2019.
After raising $180 million in a funding round led by US-based private equity firm KKR, Livspace took its valuation to over $1 billion, catapulting it into the most envied unicorn club.