Livspace, an omnichannel home interior and renovation platform, is in talks to raise new funding and it will most likely join the coveted club of unicorns soon.
According to two people familiar with the details of the deal, the Bengaluru-based startup with operations in Singapore is in late-stage discussions to raise a large investment that could exceed $200 million. The additional funds arrive at a time when Livspace is betting on global expansion. It has been operating in Singapore since 2019, in addition to 13 Indian cities.
Livspace had launched a joint venture with Alsulaiman Group (ASG) to facilitate operations in Saudi Arabia, with aspirations to expand into other MENA regions.
“Livspace is in advanced talks to raise a fresh round at a valuation of $1.5 to 1.8 billion,” said one of the sources requesting anonymity as talks are private. “The terms of the deal are in the final stage of negotiation and it may conclude in a few weeks from now.”
The flow of new money in its Singapore-based holding entity also indicates the formation of a new round. Saint Gobain has already contributed about $60 million to Livspace Pte. According to Livspace’s Singapore regulatory filings, the French multinational corporation and ASG each contributed $15 million to the tranche.
Saudi Arabia’s retail behemoth ASG is the Middle East operating partner of Swedish furniture giant Ikea, which is already a shareholder in Livspace.