 "Online furniture startup Livspace launches platform to aggregate interior designers")
Bengaluru-based online home design and decor startup Livspace has launched a platform to aggregate independent interior designers and design firms as it looks to triple its revenues to around Rs 250-300 crore in the next 12 months.
The home design automation platform will not only allow customers to discover designers and contractors, but will also allow designers to create virtual spaces and mockups right on the web. Livspace hopes the business to designers will boost sales of furniture and decor products on its own e-commerce platform.
"The principles that inspired this platform are exactly what you might have seen with Uber and Airbnb. Platforms work really well in fragmented economies, because most agents are so small that they are not able to generate enough demand for themselves," said Anuj Srivastava, co-founder and CEO of Livspace.
By bringing all aspects of designing interiors in a single online platform, Livspace expects designers to be able to complete projects 4-6 times faster and boost their earnings by six times. In a trial with the 150 odd verified designers Livspace already has on its platform, it saw productivity go up from 4-6 homes a year to 4-6 homes a month.
Eventually, Livspace aims to have 30,000 independent interior designers, design firms and contractors on its platform. While the company will continually verify more designers, it will allow customers to pick designers of their own choice based on prior work.
"Today when consumers are looking to solve this end-to-end home design problem, which is a $20-25 billion dollar industry in India, they have to go to turnkey contractors who deliver a poor experience. This was the major problem for which we are solving and it stems from personal problems we've faced," added Srivastava.
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Livspace currently has around 10,000 stock keeping units (SKUs) on its e-commerce platform and it hopes to service the needs of designers and customers with these. The 3D design tools on its platform will have renders of all the products available with Livspace, allowing them to quickly mockup renders and purchase the same.
Competing with well-funded rivals UrbanLadder and Pepperfry, Livspace hopes that it can boost sales by tapping interior designers rather than customers directly. The company so far has raised $12.6 million in two rounds from investors such as Bessmer Venture Partners, Helion Venture Partners and Jungle Ventures.