Many Indian startups feature compelling stories of founders who, with their backs against the wall, have managed to turn their fortunes around. However, only a few have excelled in a niche sector like Livspace.

Driven by two IIT Kanpur alumni, Anuj Srivastava and Ramakant Sharma, their journey from college friends to co-founders of a global home interiors and renovation platform showcases a mix of visionary entrepreneurship and dedication.

What to know: The inception of Livspace traces back to a personal pain point. Both Srivastava and Sharma were grappling with the challenges of renovating their homes and were frustrated by the disorganized and fragmented nature of the industry.

This shared experience sparked a brilliant idea: Why not revolutionize this sector with technology? Thus, Livspace was born in 2014, aimed at simplifying the complex process of home renovation and design through a seamless, tech-driven service model.

Their journey wasn't without hurdles. The COVID-19 pandemic posed significant challenges, from a drop in revenue to operational disruptions. However, the founders’ resilience shone through as they made tough decisions, including salary cuts and strategic layoffs, to keep their dream alive. Their ability to pivot and adapt during these times helped Livspace not only survive but thrive, doubling its growth and expanding its market reach.

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Fast forward: Today, Livspace is preparing for another bold move — shifting its domicile from Singapore back to India. This decision aligns with a wider trend among Indian startups returning home, spurred by more favourable governmental policies and market potentials. Furthermore, Livspace is eyeing a public listing in India by 2025, making the comeback all the more exciting and unnerving for the founders.

Under Srivastava and Sharma, Livspace has transformed into a curated marketplace that connects homeowners with designers and vendors, supported by a suite of proprietary software tools. This ecosystem approach has not only improved customer experience but has also driven substantial growth, setting Livspace apart in a crowded market.

Adding to their success, Livspace has recently achieved a significant milestone by becoming “cash-flow positive” in its Indian operations, amid robust revenue growth. The company is expecting a 30% increase in revenue during the 2023-24 fiscal year, with India contributing 80-85% to the total turnover. Furthermore, EBITDA losses have significantly narrowed, reflecting improved operational efficiency.

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