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    Ingka Group, IKEA's largest franchise partner, invests in Livspace

    Ingka Group, IKEA's largest franchise partner, invests in Livspace

    Ingka Group, IKEA's largest franchise partner, invests in Livspace
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    By Mugdha Variyar   IST (Published)

    Home design and renovation platform Livspace has raised funding from Ingka investments, the investment arm of Ingka Group.
    Ingka Group is a strategic partner in the IKEA franchise system, representing 90 percent of total IKEA retail sales through 367 stores in 30 markets including India.
    Ingka has made a minority investment in Livspace. However, the amount that has been invested is yet to be disclosed.
    Livspace will deploy its newly raised funds across areas such as development of new home interior solutions and products, market expansion as well as growing its offline footprint, the company said in a statement.
    The investment will also see a sharing of expertise, wherein Livspace can leverage Ingka's global footprint. Ingka will also leverage the technology platform of Livspace.
    IKEA launched its first store in India in Hyderabad last year and is set to expand to other cities soon.
    Livspace has earlier raised funding from Goldman Sachs and TPG Growth.
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