Home interior and renovations platforms Livspace announced Wednesday (30 Oct) that it has launched its operations in Singapore.
The startup, founded in 2015 by Ramakant Sharma and Anuj Srivastava, is said to have pioneered the world’s only operating system for the home interior and renovation industry.
Livspace uses data science-enabled algorithms and matches homeowners with designers.
Via their proprietary Canvas platform, homeowners can get to see quick mockups that give the look-and-feel of their dream home. After this, Livspace assures the delivery of the project.
“Over the next 30 months, we are aiming to build Livspace into a US$500 million business operating across APAC and solving the renovation problem for tens of thousands of homeowners,” said Livspace’s CEO and Co-Founder, Anuj Srivastava.
“Singapore marks the first step in our APAC growth and will serve as the headquarters for our global expansion.”
Added Ravindran Shanmugam, Country Head of Singapore for Livspace: “Singapore is a highly attractive market for Livspace – a US$5 billion home-design industry that is growing at 10% year-on-year.”
“We are looking to strengthen our presence in Singapore by investing US$30 million for our business expansion and to grow our team.”
Livspace plans to base central teams and over 250 employees in Singapore, creating and testing cutting-edge platform level innovations here.
They intend to onboard “thousands of freelance designers, contract manufacturers, OEMs and brands” over the next two years.
There are also plans to create an omnichannel experience using AR, VR and platform-integrated physical design experience centres.
Livspace currently serves nine metro areas in India and has a network of 20 design centres and experience apartments across the country. They currently work with 3,500 registered designers and have designed 20,000 homes so far.
In India, Livspace has over 80% market share, and are more than doubling revenues every year.