Singapore proptech unicorn Livspace eyes Vietnam expansion

The firm, one of Asia’s largest omni channel home interior and renovation platforms, will set aside around $40 million to $50 million to fuel its expansion into Vietnam, Indonesia, Malaysia, and Thailand, reported Tech in Asia.  

The funding round also witnessed participation from existing investors such as Ingka  Group Investments, Jungle Ventures, Venturi  Partners, and Peugeot Investments, among others.  

The collaboration with KKR is expected to help Livspace scale business 10x in the coming  duration, stated Anuj Srivastava, Co-Founder and CEO of Livspace. He acknowledged KKR’s deep understanding of global markets, strong brand name, and proven expertise in  partnering with new-age digital brands.

To support its ambitious expansion plans, Livspace will launch in new markets, double down  on brand building in India and Singapore, and continue investing in its pioneering platform  technology and digitally integrated supply chain; and hire, develop and nurture talent across  the board to support both new and existing businesses. 

The funds will also be channeled towards strategic investments into innovative companies to help them scale and grow even faster. The Company recently acquired a majority stake in Qanvast, a Singapore-based home remodeling and design platform connecting homeowners and trusted home professionals.  

“Livspace is solving a complicated, multi-stakeholder problem which requires a mix of sophisticated software applications, strong execution capability, and a consumer-centric approach. We believe that over time, this combination of competencies will build a strong competitive advantage that will see Livspace extend its leadership position, enter new markets and broaden its offerings. We are excited to work together with Anuj, Ramakant, and the Livspace team on this journey,” said Louis Casey, KKR’s growth technology lead in Southeast Asia.

This is KKR’s latest investment from our Asia next generation technology strategy, and follows recent investments in the region, including GrowSari in the Philippines, KiotViet in Vietnam, Lenskart in India, and moody and Adopt A Cow in China.