Home improvement platform Livspace on Friday reported that its revenue grew 85% to about Rs 1,100 crore in the last financial year.
Revenue for the last financial year was S$101.75 million. In the last financial year, this figure grew by 85% to S$188 million, approximately Rs. 1,100 crore.
During the reporting period, the company’s EBITDA loss narrowed from S$96.86 million to S$95.35 million.
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Ankit Shah, chief strategy officer at Livspace, said in a statement: “Our business revenue grew by 85%, reaching revenue of nearly Rs 1,100 crore. Business expansion, investments in brand and experience centers and improving supply chain helped the company achieve this financial year High growth.” The company aims to be cash positive by the end of fiscal 2024 and continues to invest in strategic partnerships to create value across the ecosystem, the statement said.
Livspace is actively pursuing M&A opportunities to accelerate growth and strengthen its market position.
Livspace leverages its proprietary technology to provide homeowners with a one-stop renovation solution – from design to last-mile fulfillment that manages all rooms in the home.
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Livspace currently serves more than 50 metro and non-metro areas in the Middle East, Singapore and Malaysia, as well as India.
Livspace said it has delivered more than 120,000 rooms and sold more than 5 million stock-keeping units through its platform.
The company has raised approximately $450 million from investors including KKR, Ingka Group Investments (part of Ingka Group, the largest IKEA retailer), TPG Growth, Goldman Sachs, Kharis Capital, Venturi Partners, FFP (Peugeot Group Holding), EDBI and others , Bessemer Venture Partners, Jungle Ventures, Helion Ventures and UC-RNT.
