KKR Leads $180M Funding for Asian Home Interiors Platform Livspace
By Yifan Wang
US private equity firm KKR & Co. is leading a $180 million financing round in Asian interior design and home improvement platform Livspace.
Ingka Group Investments, part of IKEA’s largest retailer, Ingka Group, has also joined the fundraiser. Other investors included Jungle Ventures, Venturi Partners and Peugeot Investments, according to a joint statement from KKR and Livspace on Tuesday.
The two companies said the latest investment would give Livspace a valuation of more than $1 billion, without providing further details of the deal.
Livspace, which has offices in Singapore and India, plans to use the new capital for market expansion, brand building and talent acquisition.
It will also use the funds to invest in other companies in the home design supply chain. The company recently acquired a majority stake in Qanvast, a Singapore-based home improvement platform connecting homeowners and design professionals.
This investment is part of KKR’s strategy to position itself for new technologies in Asia. The asset manager has recently made a slew of investments in other Asian tech companies, including Indian e-commerce eyewear retailer Lenskart and Chinese direct-to-consumer dairy platform Adopt A Cow.
Write to Yifan Wang at [email protected]