Livspace was founded in 2015 to address the disjointed customer experience faced by individuals looking to renovate their homes. It is an online end-to-end home design and renovation platform that offers a three-sided marketplace. The company operates across nine metropolitan areas of India including Bangalore, Delhi, Noida, Gurgaon, Mumbai, Thane, Pune, Hyderabad and Chennai.
Livspace has a network of 20 design centers and experience apartments across the country. The company has raised funding from world-class investors including Ingka Ventures (IKEA), TPG Growth, Goldman Sachs, Bessemer Venture Partners, Jungle Ventures, Helion Ventures, and UC-RNT.
In an interview with ETCIO, Rohit Modi, Chief Technology Officer (CTO), Livspace, said: “We leverage ML to classify design assets to improve search and discovery for designers. We use text classification algorithms to automate feature classification of design assets. We use automatic clustering to We filter the available designers and the match score incorporates time series data of a designer’s past performance and predicted bandwidth considering the current projects the designer is managing.”
What concerns do your customers have when considering interior design or renovation for their homes? How does Livspace address these concerns?
When evaluating interior design options, it’s important to understand that homeowners doing this for the first time have no experience or knowledge of the purchase they are about to make. They need to educate themselves about what to buy, why the choices are different, costing techniques, and more. This is in addition to the hassles you face when it comes to negotiations, dealing with contractors and vendors, and timely completion of projects.
Livspace leverages technology to address these gaps and concerns, delivering a full-stack solution that provides homeowners with a seamless, predictable, and personalized customer experience instead of a chaotic and broken one. We aim to do so. Livspace solves some of the space transformation industry’s biggest pain points by building an infrastructure to organize supply information and streamline product design, manufacturing, and installation.
How does LivSpace improve the customer experience through technology?
Traditionally, interior design consumers have had to go through several piecemeal steps when designing a home. It was difficult to match products and services to design requirements. Supply chains had to be restructured with each order, making it difficult for design studios and independent contractors to provide price transparency and predictability. Despite spending a lot of money, consumers could not get any guarantees about the quality of the work.
The challenge for contractors is that they have a limited selection of products and services to choose from from a supply standpoint. The challenge for suppliers is that products are made to order and cannot be kept in stock for long periods of time. When combined with market access and cash flow issues, unorganized markets present a suboptimal solution.
With the advent of technology-driven solutions by Livspace, the consumer experience has moved from being hassle-based to seamless and positive. By creating a unique three-sided marketplace, an industry first, that connects consumers, designers, and supply chain vendors on one platform. Canvas – Proprietary design-to-installation technology is at the heart of Livspace. For the first time, technology is making it possible to standardize the interiors supply chain, which was previously not possible in the industry.
Synchronizing delivery and installation provides predictability and timelines. These two concepts were previously unheard of in this field, but technology has made them possible. It also allows products and services to be cataloged on one platform, building a large database of over 4 million items that designers can use to provide accurate service and quality. Platform capabilities include end-to-end real estate design, from simpler product integrations to very deep and detailed technology-driven integrations.
What are the disruptive features of Canvas and how does it meet your business needs?
Canvas is the world’s first cloud-based design/ERP solution for the home design and decoration industry. Canvas automates the interior design and installation process end-to-end. It is an integrated system from design to manufacturing to last-mile installation. It is a highly scalable solution for the design industry that provides error-free interiors through standardization. For designers and makers, Canvas acts like his ERP, helping them grow and making Livspace India’s largest interior design and renovation platform.
At Canvas, all products and services are available as e-commerce SKUs. This includes categories such as furniture, decorative items, and modular furniture, as well as services such as wall painting, flooring, and false ceilings. Designers can use these his SKUs to quickly create his 3D/VR designs with around 90% fidelity.
Canvas automatically creates shopping carts for every design in real time. An average cart in a 2BHK house may consist of more than 500 his SKUs. All orders are automatically placed with their respective vendors and manufacturers, which can also be managed through his Canvas. Deliveries and last-mile installations are managed and tracked through a single dashboard.
How does ML integrate with Canvas? What role does it play?
Machine learning is used to match homeowners with suitable designers on the platform. Factors such as background, location, language preference, functional requirements, and aesthetic preferences are important criteria to consider when matching architects and homeowners. This is an important use case to consider, as incorrect matchmaking can impact customer experience and conversion rates on the platform.
Automatic clustering is used to filter available designers, and the match score incorporates time series data of a designer’s past performance and predicted bandwidth considering the current projects the designer is managing. Our designers create thousands of designs on the platform every month. Over time, our community of designers has built a very large repository of home designs. Machine learning algorithms can also automatically classify design assets to help designers improve search and discovery. We use text classification algorithms to automate feature classification of design assets.