Livspace to invest $25 mn in joint venture with Alsulaiman Group

27 Oct 2021 CW Team

Home interior platform Livspace is growing to the Middle East, rising with Saudi Arabia, where it has created a joint venture with the Alsulaiman Group (ASG), a senior firm executive told the media.

Livspace co-founder Ramakant Sharma told the media that the firm will fund $25 million (Rs 187.5 crore) in the joint venture with ASG, the operating partner of Swedish furniture retailer Ikea in the area. ASG receives customer insights and supply-chain solutions to the JV while they bring their product and implementation capabilities. It is anticipating healthy revenue from the home interiors and renovation segments in Saudi Arabia.

The firm's increase over the following one year to year-and-a-half will come from augmentation into new markets overseas, more non-metro and smaller cities within India and by enhancing unit economics.

Within the GCC (Gulf Cooperation Council), they plan to grow to another six to seven cities. It is a $15 billion worth of total addressable market that they are targeting. The firm's present revenue run-rate is approximately $175-180 million, which would likely surge to $300-350 million within the following two years.

The firm presently works in India and Southeast Asian markets like Singapore. They are attempting to make a truly global firm out of India with about 20% of their new sales coming in from markets outside of India.

For the fiscal year ended March 31, 2020, the firm recorded new sales of $225 million. They anticipate fresh sales to be about $650-700 million over the next two years.

Established in 2014 by Sharma and Anuj Srivastava, Livspace claims to be the largest omnichannel home interior and renovation platform today. It has delivered more than 100,000 rooms and is marketing more than 7.5 million items through its platform.

So far, Livspace has raised over $200 million in capital from investors comprising Ingka Ventures (the venture arm of Ikea), TPG Growth and Goldman Sachs. Their India business is operationally profitable, and they are properly backed as of now and thus are not looking at raising further capital.

Image Source

Also read: Home renovation platform Livspace plans $50 mn biz expansion

Home interior platform Livspace is growing to the Middle East, rising with Saudi Arabia, where it has created a joint venture with the Alsulaiman Group (ASG), a senior firm executive told the media. Livspace co-founder Ramakant Sharma told the media that the firm will fund $25 million (Rs 187.5 crore) in the joint venture with ASG, the operating partner of Swedish furniture retailer Ikea in the area. ASG receives customer insights and supply-chain solutions to the JV while they bring their product and implementation capabilities. It is anticipating healthy revenue from the home interiors and renovation segments in Saudi Arabia. The firm's increase over the following one year to year-and-a-half will come from augmentation into new markets overseas, more non-metro and smaller cities within India and by enhancing unit economics. Within the GCC (Gulf Cooperation Council), they plan to grow to another six to seven cities. It is a $15 billion worth of total addressable market that they are targeting. The firm's present revenue run-rate is approximately $175-180 million, which would likely surge to $300-350 million within the following two years. The firm presently works in India and Southeast Asian markets like Singapore. They are attempting to make a truly global firm out of India with about 20% of their new sales coming in from markets outside of India. For the fiscal year ended March 31, 2020, the firm recorded new sales of $225 million. They anticipate fresh sales to be about $650-700 million over the next two years. Established in 2014 by Sharma and Anuj Srivastava, Livspace claims to be the largest omnichannel home interior and renovation platform today. It has delivered more than 100,000 rooms and is marketing more than 7.5 million items through its platform. So far, Livspace has raised over $200 million in capital from investors comprising Ingka Ventures (the venture arm of Ikea), TPG Growth and Goldman Sachs. Their India business is operationally profitable, and they are properly backed as of now and thus are not looking at raising further capital. Image Source Also read: Home renovation platform Livspace plans $50 mn biz expansion

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Building Material

11 Dec 2025

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

Building Material

11 Dec 2025

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..