Livspace, the omnichannel home interior and renovation platform, has successfully acquired Abby Lighting, a Mumbai-based provider of LED lighting solutions, in a deal structured through both cash and stock, as disclosed in regulatory documents reviewed by Startup Superb. The acquisition was valued at approximately Rs 204 crore (around $23 million), consisting of Rs 173 crore in cash and Rs 31 crore via a share swap.
As part of this share swap, Abby Lighting’s co-founders, Sanjay Bajaj and Suresh Bajaj, will receive 4,11,274 equity shares in Livspace, equating to a stake of about 0.31% in the company. A spokesperson from Livspace informed Startup Superb that this move aligns with their strategy to expand their range of services offered to customers. Additionally, the management and promoters of Abby Lighting & Switchgears will remain in control, ensuring that operations will continue as they are.
About Abby Lighting
Founded in 2000, Abby Lighting is known for its designs and manufacturing of LED and architectural lighting solutions suitable for residential, commercial, and industrial settings. The company specializes in energy-efficient, tailored lighting systems along with related switchgear products. It operates from a substantial design and manufacturing facility in Palghar, Maharashtra, spanning over 85,000 square feet.
Livspace’s Acquisition Strategy
This acquisition marks the fifth transaction for Livspace, which is backed by IKEA. Previous acquisitions have included Qanvast, YoFloor, Dwll.in, and DezignUp. Since its inception in 2014, Livspace has been empowering homeowners to explore and customize pre-designed spaces, kitchens, and storage solutions through its innovative platform.
Investment and Growth Milestones
As reported by various sources on startup data intelligence, Livspace has raised over $520 million to date. Its Series F funding round, which amounted to $180 million and was led by KKR & Co., played a significant role in helping the company achieve unicorn status.
For the fiscal year concluding in March 2025, Livspace experienced a 23% year-on-year increase in operational revenue, reaching Rs 1,460 crore, up from Rs 1,185 crore in FY25. Concurrently, the company achieved a reduction in losses by 42%, resulting in a loss of Rs 242 crore.