Livspace, a home interior and renovation platform backed by KKR & Co and Goldman Sachs Group Inc., is setting aside $100 million for acquisitions to fuel expansion in India, Singapore, Malaysia and the Middle East.
The Singapore-based startup is in active discussions with eight to nine companies as it seeks assets that will help the company generate growth and accelerate its path to profitability, livespace Chief Executive Officer Anuj Srivastava said.
In a joint interview with Ankit Shah, former Goldman Sachs executive director who joined LivSpace earlier this year, Srivastava said, “This is our strategy to expand the market size and the company’s profitability profile. ” Help keep Livspace “on a clear path to profitability for our core business over the next 12 to 18 months,” the CEO said.
The move comes after Livspace raised $180 million in a funding round that valued the company at over $1 billion. The Series F round was led by KKR and existing investors included Ikea-parent Ingka Group Investments, Jungle Ventures, Venturi Partners and Peugeot Investments.
Of the potential targets, Livspace could acquire around three to four companies instead of taking a small stake in a group of companies, both executives said.
Shah, who spearheaded the company’s acquisition efforts, said, “We plan to do less but do it well. This allows us to really act as a consolidation platform and to strategize some of these capabilities.” gives more opportunity to achieve.”
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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