Livspace, a Bangalore based home décor startup has recently acquired YoFloor. YoFloor is now officially a part of Livspace, the first complete home design service online. Earlier it had acquired home design marketplace DezignUp and curated online network for interior designers Dwll.in this year.
According to Archit Rathi and Ankur Mishra, co-founders of YoFloor, “Our product and technology tools coupled with Livspace’s design community and operational capabilities will go a long way in revolutionising the home design space.” And now as a part of acquisition the complete team of YoFloor will now join Livspace to reach for the eternities and take home designing to a new more presentable and revolutionised stage.
Founded in 2012 by former Google and Myntra executives Anuj Srivastava, Shagufta Anurag and Ramakant Sharma, Livspace earlier in December raised $ 4.6 million (Rs 29.4 crore) in series funding from Helion Venture Partners and Bessemer Venture Partners.
With the acquisition of YoFloor, Livspace is set to meet its vision of creating a first-of-its-kind tool in India which will allow designers to upload your home and layout, to present looks that you’ve selected, and personalize them to your taste right in front of you. So, it is visualization and personalization rolled into one. And not just designers, homeowners will be able to use this functionality as well! So, get ready for an immersive design experience in real time. Deciding upon a final design or look for your home will take the least amount of your time but with an augmented visualization, it will still remain a highly involved experience like it should.
Technavio’s analysts forecast the online home décor market in India to grow at a CAGR of 50.42% in revenue over the period 2014-2019. Technavio’s report is based on an in-depth market analysis with inputs from industry experts. It covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.