Livspace, an omnichannel home interior and renovation platform, on Tuesday entered the unicorn list with a Series F fundraising of $180 million led by KKR, a global investment firm.
The company became India’s 88th unicorn - a private company valued over $1 billion - and 7th one to enter the list in 2022, as per Venture Intelligence Unicorn Tracker, a private equity research firm.
The round also witnessed participation from existing investors such as Ingka Group Investments (part of largest IKEA retailer Ingka Group), Jungle Ventures, Venturi Partners, and Peugeot Investments, among others, the company stated in a press statement.
The company plans to use the funds raised to venture into new markets across Asia Pacific (APAC) & Middle East and North Africa (MENA) region and Australia. It is currently witnessing rapid growth in India and Singapore regions, co-founder and CEO of Livspace Anuj Srivastava said in the statement.
“We are honoured to collaborate with KKR in our next phase of growth...Their deep understanding of global markets, strong brand name and proven expertise in partnering with new-age digital brands will help us scale our business 10x in the coming duration,” Srivastava added.
This investment from KKR comes in a series of other recent investments in technology-based Asian startups including Lenskart, an omnichannel eyewear retailer, moody, a tech-enabled eyewear company in China; Adopt A Cow, a digitalised, direct-to-consumer dairy company in China, GrowSari, an e-commerce platform serving micro, small and medium-sized enterprises (MSMEs) in the Philippines, and KiotViet, a merchant platform for MSMEs in Vietnam.
Currently the company is operational in 30 cities.
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