Ikea invests in India’s one-stop interior design platform Livspace
Category: #business  By Mateen Dalal  Date: 2019-05-22
  • share
  • Twitter
  • Facebook
  • LinkedIn

Ikea invests in India’s one-stop interior design platform Livspace
  • The interior design platform had raised over $70 million last year with investment from TPG Growth & Goldman Sachs.
  • The investment is Ikea’s first such deal in India, however it isn’t the company’s dalliance in India’s startups by any means.

Ingka Investments, the venture capital arm of Ikea’s parent Ingka Group, has reportedly announced that it has invested in Livspace, India’s one-stop interior design platform.

Reports cite, the latest investment comes after the interior design platform had raised over $70 million last year with investment from TPG Growth & Goldman Sachs.

According to reliable reports, the Indian company plans to utilize the capital to develop novel home interior products & solutions while also expanding its offline presence. While, the company did not officially disclose the amount invested by Ikea, sources familiar to the matter claimed that the amount was somewhere between $10-$15 million.

The CEO of Livspace, Anuj Srivastava stated that the stake involved in the Ikea investment is quite minor and there is no future plan to attach a larger round to the latest investment. Srivastava further added that there is a strong commercial & strategic potential in the Ikea investment and that this is an opportunity to generate the best omnichannel experience possible for consumers.

The Indian company’s platform reportedly connects potential customers with designers as well as the supply chain to traverse through ideas, select a plan & implement it. The company’s model resonated with Ikea wherein the company sides started talking following the announcement of the Series C investment round by Livspace last September.

Reports claim, the possibility that the latest investment might be a precursor to Ikea eventually acquiring Livspace is not being entertained by the Hyderabad-based company’s board.

According to reports, both parties are yet to unveil how they intend to work alongside each other going forward.

Source Credit:

https://techcrunch.com/2019/05/20/livspace-ikea/

https://www.livemint.com/companies/start-ups/ikea-picks-up-a-minority-stake-in-livspace-1558345760822.html

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

A qualified electronics and telecommunication engineer, Mateen Dalal embarked on his professional journey working as a quality and test engineer. Harnessing his passion for content creation however, Mateen pens down industry-rich articles for ReportsGO.com and a few o...

Read More

More News By Mateen Dalal

Alphabet’s Google to face lawsuit from NLRB for violating labor laws
Alphabet’s Google to face lawsuit from NLRB for violating labor laws
By Mateen Dalal

In a recent turn of events, U.S. government body National Labor Relations Board (NLRB) has reportedly issued a complaint against American multinational technology company, Google LLC for unlawfully monitoring as well as questioning its workers and su...

Britain’s CMA to levy tougher competition rules on Google and Facebook
Britain’s CMA to levy tougher competition rules on Google and Facebook
By Mateen Dalal

Facebook and Google accounted for around 80% of the total 14 billion pounds spent on digital advertising in 2019. MOW has reportedly accused Google of modifying its Chromium developer tools and Chrome browser to get greater control over advertiser...

Amazon, U.S. Government team up to prevent sale of counterfeit goods
Amazon, U.S. Government team up to prevent sale of counterfeit goods
By Mateen Dalal

According to reliable sources, Washington-headquartered American multinational technology company, Amazon.com Inc has reportedly initiated a joint venture with the U.S. government’s counterfeit agency, the IPR Center (National Intellectual Prop...