Proptech Startup Livvehomes Raises $5 Million from Angel Investors
Livve Homes, a startup based in Kerala that offers deposit and payment platforms for owners as well as tenants has raised $5 million in second funding from angel investors.
Livvehomes was started in 2015 in Cochin, Kerala, and currently has 480 properties across Indian cities like Delhi NCR, Bengaluru, Pune, Hyderabad, Chennai, and Dubai.
It acts as a middle man between the tenants and owners, providing a smooth experience and services. For the last five years, the company has been providing great living standards to increase their value by taking up unfurnished as well as semi-furnished homes from the owners, furnish them and further rent them to tenants and most importantly without any deposits.
During the pandemic, the company even paid rents on behalf of tenants who were unable to pay on account of salary cuts or job losses. Around 480 house rents were covered by Livve till the month of May 2020.
Livvehomeshad previously raised funding of $1.5 million and with the completion of this round, the startup has raised a total funding of $6.5 million to date.
Livvehomes will use the fresh funds raised to add more quality furnished homes to their list and further connect more tenants and landlords on their platform. Capital will also be used to stabilize the company's operations which further helps in the development of the property.
“We’re pumped up with excitement to change the housing ecosystem. With this boost of motivation, we’re sure to change the way people perceive rental space till now. The funds would be used to renovate more and more normal homes and make them functional, beautiful living spaces. Starting our Pune showrooms will provide a new kind of experience to people who are looking to convert their houses to a great living experience. As of now we have completed renovating over 4500 houses and we are looking forward to making at least 12,000 houses till 2021 finishes,” says MayyaLakshman, COO, Livvehomes.
As per a report printed in Gregorian calendar month 2018, India has the biggest variety of prop-tech startups within the Asia-Pacific region. The report noted that the country is home to over seventy-seven funded prop-tech startups, out of a complete of 179 within the Asia-Pacific region.
Another IBEF report suggested that the real estate sector in India is expected to reach a market size of $1 trillion by 2030 from $120 billion in 2017 and contribute 13 percent of the country’s GDP by 2025. Although the sector is currently suffering a slump due to reverse migration and work-from-home trends, the sector will be back to its pace once the pandemic is over. Other startups in the Proptech sectors include NoBroker, Strata, Zolo, YourOwnROOM, and Stanza, among others.
Livvehomes was started in 2015 in Cochin, Kerala, and currently has 480 properties across Indian cities like Delhi NCR, Bengaluru, Pune, Hyderabad, Chennai, and Dubai.
It acts as a middle man between the tenants and owners, providing a smooth experience and services. For the last five years, the company has been providing great living standards to increase their value by taking up unfurnished as well as semi-furnished homes from the owners, furnish them and further rent them to tenants and most importantly without any deposits.
During the pandemic, the company even paid rents on behalf of tenants who were unable to pay on account of salary cuts or job losses. Around 480 house rents were covered by Livve till the month of May 2020.
Livvehomeshad previously raised funding of $1.5 million and with the completion of this round, the startup has raised a total funding of $6.5 million to date.
Livvehomes will use the fresh funds raised to add more quality furnished homes to their list and further connect more tenants and landlords on their platform. Capital will also be used to stabilize the company's operations which further helps in the development of the property.
“We’re pumped up with excitement to change the housing ecosystem. With this boost of motivation, we’re sure to change the way people perceive rental space till now. The funds would be used to renovate more and more normal homes and make them functional, beautiful living spaces. Starting our Pune showrooms will provide a new kind of experience to people who are looking to convert their houses to a great living experience. As of now we have completed renovating over 4500 houses and we are looking forward to making at least 12,000 houses till 2021 finishes,” says MayyaLakshman, COO, Livvehomes.
As per a report printed in Gregorian calendar month 2018, India has the biggest variety of prop-tech startups within the Asia-Pacific region. The report noted that the country is home to over seventy-seven funded prop-tech startups, out of a complete of 179 within the Asia-Pacific region.
Another IBEF report suggested that the real estate sector in India is expected to reach a market size of $1 trillion by 2030 from $120 billion in 2017 and contribute 13 percent of the country’s GDP by 2025. Although the sector is currently suffering a slump due to reverse migration and work-from-home trends, the sector will be back to its pace once the pandemic is over. Other startups in the Proptech sectors include NoBroker, Strata, Zolo, YourOwnROOM, and Stanza, among others.
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