Avendus Advises Livspace on Its Fundraise From Ingka Group, a Strategic Partner in the Ikea Franchise System
Livspace, India and Southeast Asia’s no. 1 home design and renovation platform, today announced that Ingka investments, the investment arm of Ingka Group (Ingka Holding B.V and its controlled entities), has made a minority investment in the company. Ingka group is a strategic partner in the IKEA franchise system, representing 90 percent of total IKEA retail sales through 367 stores in 30 markets including India.
Avendus Capital was the exclusive financial advisor to Livspace on this fundraise.
Livspace
With Ingka’s strong global footprint and Livspace’s disruptive technology platform, the investment enables a sharing of expertise between the two companies. Livspace will deploy its newly raised funds across areas such as developing new home interior solutions and products, market expansion as well as growing its offline footprint.
Since its launch in 2015, Livspace has emerged as the top organized player in India’s very fragmented home interiors and renovation market. In September 2018, Livspace raised USD 70 million as part of its series C round and brought TPG Growth and Goldman Sachs onboard as investors. The round marked the largest Series C round ever raised by a vertical e-commerce company in India and was amongst the biggest in Southeast Asia. This fresh investment comes months after the last round and Avendus Capital was the financial advisor to the company for the investment.
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