Ikea invests in India-focused interior design platform Livspace

Ingka Investments, the investment arm of European holding company Ingka Group, has made a strategic investment in home interior and renovation platform Livspace.

Photo credit: Livspace

Ingka Group is also a strategic partner in the Ikea franchise system, representing roughly 90% of the furniture retail company’s retail sales through 367 stores in 30 markets including India, according to a statement.

The Singapore-based but India-focused Livspace helps customers select and buy furniture and other decor from vendors through its platform. It also connects users to its curated community of interior designers, furniture makers, and home renovation experts.

The head of Ingka Investments, Krister Mattsson, said that the investment “aligns closely with the digital direction of Ingka Group,” as well as its Ikea Retail business.

Livspace currently serves nine metro areas in India: Bengaluru, Chennai, Hyderabad, Delhi, Gurgaon, Noida, Mumbai, Thane, and Pune.

Other furniture-focused e-tailers with operations in India include Hometown, PepperFry, and UrbanLadder.

Livspace late last year received US$70 million in a series C funding round co-led by Goldman Sachs and TPG Growth.