According to a statement from CEO Anuj Srivastava, Livspace, a Singapore-based proptech company, is planning to spend US $100 million to acquire more businesses that would aid its development strategy.
The executive claims that Livspace is now engaged in “active conversations” with eight to nine businesses with the intention of acquiring three to four enterprises. With the help of these agreements, it hopes to grow in Malaysia, Singapore, India, and the Middle East.
According to Srivastava, the plan would place the firm on a direct road to “profitability for our core business” over the course of the following 12 to 18 months.
Livspace, which was founded in 2014, uses its platform to provide interior design and remodelling services. This aids in estimating project costs, completion dates, and quality.
The startup raised US $180 million in a series F fundraising round led by KKR in February of this year, elevating the business to unicorn status. Srivastava has previously stated that Livspace will put aside between $40 million and $50 million of funding for its development into Southeast Asia.