Online home dÃ©cor marketplace Livspace acquires interior designers network Dwll
Bangalore-based Home Interior Designs E-commerce Pvt Ltd, the startup behind online marketplace for personalised home interior design and dÃ©cor Livspace, has acquired Dwll.in, an online network of interior designers, for an undisclosed amount, according to a press release.
As part of the deal, the entire team including the founders of Dwll, will join Livspace.
The acquisition which will help Livspace to expand the catalogue of designer looks for home-owners and the curated community marketplace of home designers, comes within two months of Livspace snapping another similar venture- DezignUp
Founded in 2013 by Parikshat Hemrajani and Pankaj Poddar, Dwll.in is an online marketplace for personalised home interior design and dÃ©cor.
Both Hemrajani and Poddar have 10 years of experience. Hemrajani who did his MBA from Indian School of Business, Hyderabad, has worked with Accenture while Poddar graduated from Virginia Tech with MS in computer science and has worked with Ernst & Young before starting this venture.
"The synergies of the technology, design strength and execution capabilities of Livspace along with the designer network and consumer-centric focus of Dwll.in's platform will go a long way in revolutionising the home design space," said Hemrajani and Poddar in a joint statement.
'The Dwll.in team brings deep insights into the workings of the home design industry in India. We look forward to working with these designers to create the biggest library of designer looks in the country and offer the same to tens of thousands of home-owners across the country. Where possible, we will continue to use acquisitions as a natural extension of our strategy," said Anuj Srivastava, CEO and co-founder of Livspace.
Livspace was founded in 2012 by Srivastava, Shagufta Anurag and Ramakant Sharma. The startup enables home-owners to discover thousands of pre-created looks for rooms, kitchen and storage areas in their homes at the click of a button. Customers can select and purchase these looks, which are created by international designers and personalise them (by material, colour, style) online. The startup then delivers the items at the customers' doorsteps.
It plans to start building the go-to-market strategy for the western region and to expand across other metros and tier I cities.
Last December, Livspace raised $4.6 million (Rs 29 crore) co-led by Helion Venture Partners and Bessemer Venture Partners along-with Singapore-based Jungle Ventures and others.