Livspace Raises $70 Million in Round Led by Goldman Sachs, TPG

Yoolim Lee, Bloomberg News

(Bloomberg) -- Livspace, an online home interiors marketplace, raised $70 million in a round led by TPG Growth and Goldman Sachs to fund its expansion in India.

The series C funding includes backing from existing investors Jungle Ventures, Bessemer Venture Partners and Helion Ventures, the company said in a statement on Wednesday. Livspace said it’s on track to hit more than $100 million of annualized gross revenue by March.

Founded in Singapore in 2014, Livspace connects customers, designers and vendors to help them furnish homes. It currently operates in seven Indian cities, including Mumbai and Hyderabad, with the new capital to fuel an expansion into six other metropolitan areas by 2019.

The company is competing in an Indian home interior and renovation market expected to reach $23 billion by 2022.

To contact the reporter on this story: Yoolim Lee in Singapore at yoolim@bloomberg.net

To contact the editors responsible for this story: Robert Fenner at rfenner@bloomberg.net, Reed Stevenson