American private equity major TPG will invest $40 million in online home design startup Livspace in its second deal in India. Livspace is founded by Anuj Srivastava and Ramakant Sharma in 2015.
The startup offers complete shoppable designs for all rooms, which can be selected from from the website and customised with assistance from interior designers. The latest investment from TPG, one of the largest private equity firms in the world, indicates the company’s interest in Indian market.
According to reports, TPG, which holds stakes in Airbnb and Uber, is likely to make more investments in India this year. The latest cash influx will be a booster for Livspace since the company is planning to open offline stores in major Indian cities.
Major companies across the globe are now eyeing Indian consumer post the Walmart-Flipkart deal. Global giants like Goldman Sachs, Carlyle and Temasek are reportedly looking for investment opportunities in India. This is trend is likely to accelerate the Indian startup ecosystem in coming days.