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Livspace Lays off 450 employees due to impact from COVID-19

26May By AdityaNo Comments

News

Livspace Lays off 450 employees due to impact from COVID-19

Bengaluru-based Livspace, which is into home design and renovation, has laid off 450 employees 15 percent of its total workforce due to an adverse impact of the coronavirus-induced lockdown. The decision to lay off was taken last week. Earlier this month, leading co-working operator WeWork India also announced laying off nearly 100 employees. Founded in 2015 by Ramakant Sharma and Anuj Srivastava, Livspace provides a three-sided marketplace and a design automation platform that connects homeowners, certified designers and vendors. Livspace uses data science-enabled algorithms to match homeowners with designers (based on style preferences, budget, scope of work and timelines). "Due to the COVID-19 pandemic, like every business in the discretionary purchase sector, Livspace als...

22Sep By Gauri SinghNo Comments

FUNDING

Top 5 Funding of The Week (17th Sept – 22nd Sept)

The most popular methods of fundraising these days for companies is either through investors or through the launch of IPO. Initially, the companies generally go for raising funds from the investors. This has become a vital part of a business and thus, here we have the top five funding activities that took place this week. This particular week was quite active in terms of fundraising activities. The company that raised the highest amount of funds was UiPath which is a Robotic Process Automation (RPA) software company that raised $225 million funds. Let's have a look on these funding rounds. Setoo A UK-based startup Setoo that turns insurance into a powerful business accelerator, transforming the online customer experience and generating new revenue str...

19Sep By Gauri SinghNo Comments

FUNDING

Online Home Design Startup Livspace Raised $70 Million in Series C Funding

Online home design and décor company Livspace has raised an amount of $70 million in a series-C financing round. The particular round was led by private equity firm TPG Growth and Goldman Sachs. This has made it one of the largest funding rounds in the vertical e-commerce space in the recent times. The funding round also witnessed participation from investors such as Jungle Ventures, Bessemer Venture Partners and Helion Ventures. With this round, the valuation of the four-year-old startup has reached around $250-300 million. The funds raised through the round are being planned to be utilized in the process of strengthening the company’s offline footprint along with marketing and branding spends. Talking about the details, the company claims to have designed close to 6,000 homes si...

29Aug By AnkitaNo Comments

FUNDING

Livspace Raises Rs 100 Cr Series B Funding From Existing Investors

Online home design company Livspace today said it has raised Rs 100 crore from existing investors in a second strategic round (Series B) of funding. The round was led by Bessemer Ventures Partners and saw participation from Jungle Ventures and Helion, Livspace said in a statement here. The funds will be used to launch services across cities -- Noida, Gurgaon, Mumbai in 2016 and Pune, Hyderabad in the first half of 2017, it added. This round of funding comes close on the heels of the company's launch of its Home Design Automation Platform. "With this round of funding we will aim to reach revenue of USD 100 million by the end of 2017 and achieve operational profitability across cities," Anuj Srivastava, CEO and Co-founder of Livspace, said. Founded by Srivastava and Ramakant Sharm...