In 2014, Anuj Srivastava and Ramakant Sharma, both IIT Kanpur alumni, faced a common challenge.
The chaotic and unorganized home interior market in India.
Their personal experiences with unreliable contractors and inconsistent quality highlighted a significant gap in the industry.Determined to address this, they founded Livspace, aiming to revolutionize the home design and renovation experience.
The company had a monthly revenue of $18 million to $20 million in March 2020, and a monthly run rate of $200 million to $240 million. This significantly dropped amid the lockdown. startup
Over the years, Livspace has achieved significant milestones:
Total Funding Raised: Approximately $450 million from investors like KKR, Goldman Sachs, and IKEA.
Current Valuation: $1.2 billion, achieving unicorn status in 2022.
Revenue: ₹1,234 crore in FY24, marking a 21% year-over-year growth.
Global Presence: Operations in over 30 cities across India, Singapore, and Malaysia.
The journey wasn't without challenges.Building a reliable supply chain, ensuring consistent quality, and gaining customer trust required relentless effort and innovation.
This post was originally shared by on Linkedin.