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Home interiors and renovation platform <keyword id="2644491" type="General" weightage="100" keywordseo="livspace" source="Orion">Livspace</keyword> has laid off at least 100 employees as part of cost-cutting measures, the media reported. According to a report in leading startups coverage portal Inc42, the layoffs impacted 2 per cent of Livspace's workforce, affecting product, engineering, content, and marketing teams. The company said in a statement that "we will, in the normal course of our operations, redeploy resources". "This is organic and a reflection of normal adjustments and/or performance management parameters," it said, adding that the business has more than doubled over the past year and it aims to turn profitable in the coming year. Livspace had sacked 450 employees during the first wave of the Covid pandemic. In October last year, the company earmarked $100 million to invest and incubate new offerings and brands in the direct-to-consumer (D2C) market in the home interiors and renovation segment. Singapore-based Livspace said it aims to create multiple home interiors and renovation solutions and D2C offerings which serve homeowners across various segments in its markets across India, Southeast Asia and the Middle East region. "As we continue to scale across new segments in existing geographies and enter new regional markets, we are looking for successful businesses and like-minded entrepreneurs that help us scale even faster," <keyword id="354664" type="General" weightage="50" keywordseo="anuj-srivastava" source="Orion">Anuj Srivastava</keyword>, CEO and Co-founder, of Livspace, said. Livspace currently has operations in over 45 cities across Southeast Asia, India, and the Middle East region. It has raised around $450 million in capital from some of the top global investors including KKR, Ingka Group Investments (part of the largest IKEA retailer Ingka Group), <keyword id="141646" type="General" weightage="50" keywordseo="tpg-growth" source="Orion">TPG Growth</keyword>, Goldman Sachs, Kharis Capital, <keyword id="8869182" type="General" weightage="50" keywordseo="venturi-partners" source="Orion">Venturi Partners</keyword> and others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-i/o-2023-pixel-7a-pixel-fold-pixel-tablet-android-14-and-everything-we-expect-to-see/articleshow/98798666.cms">Google I/O 2023 – Pixel 7a, Pixel Fold, Pixel Tablet, Android 14, and everything we expect to see</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-carriers-to-report-1-6-1-8-billion-consolidated-loss-in-fy24-says-industry-body-capa/articleshow/98799040.cms">Indian carriers to report $1.6-1.8 billion consolidated loss in FY24 says industry body CAPA</a>

Home decor company Livspace lays off 100 employees

<a href="http://www.businessinsider.in/searchresult.cms?query=Livspace&amp;sortorder=effectivedate">Livspace</a> has launched the world’s first ‘Home Design <keyword id="2812053" type="UNKNOWN" weightage="60" keywordseo="automation-platform">Automation Platform</keyword>’. The platform enables <a href="http://www.businessinsider.in/searchresult.cms?query=interior+designers&amp;sortorder=effectivedate">interior designers</a> to design 400-600% faster, earn up to 6 times and become ‘design entrepreneurs’. The company plans to create 30,000 ‘Design Entrepreneurs’ in India. 
 
Speaking about the platform, <a href="http://www.businessinsider.in/searchresult.cms?query=Anuj+Srivastava&amp;sortorder=effectivedate">Anuj Srivastava</a>, CEO and Co-founder of <keyword id="2644491" type="UNKNOWN" weightage="100" keywordseo="LivSpace">Livspace</keyword>, said, “Our platform is inspired by some of the most popular technology platforms worldwide in the on-demand transport, travel accommodation, and mobile industry in terms of its potential, capabilities and sophistication.” 
 
Livspace is inviting a select set of interior designers and studios to join the ‘Livspace Home Design Partner Programme’ which will be currently available in metros. The programme is a holistic offering comprising of access to unlimited customer leads, free usage of the design automation platform, Livspace studios, an eCommerce store and project management support to design beautiful homes in 12 weeks. Designers can sign up and apply to the program at <a href="http://www.livspace.com/designpartners">www.livspace.com/designpartners</a>. 
 
The platform enables 10x faster project turnaround time. The company claims this platform will help it grow by another 3 – 5 times in the next 12 months. 
 
Livspace is aiming to potentially organize the fragmented $25 billion home design industry in India with this one stop platform.

This Startup is changing the way people dream of living

<ul><li>Through a pilot, Livspace said that it already has a $15 million gross revenue run rate and is growing at 25% month-on-month in Singapore. </li><li>Livspace is also investing $30 million to grow its business in Singapore. </li><li>Earlier this year, Livspace had raised funding from Ingka Group – a key franchise partner of Swedish furniture giant, IKEA.</li></ul>Home interiors and renovation platform Livspace has entered the Singapore market. Through a six-month long pilot, the startup said that it already has a $15 million gross revenue run rate and is growing at 25% month-on-month. Livspace is also investing $30 million to grow its business in Singapore – drive demand, hire talent, build design experience centres and develop a regional supply chain. “Over the next 30 months, we aim to build Livspace into a US$500 million business operating across APAC and solve the renovation problem for tens of thousands of homeowners. Singapore marks the first step in our APAC growth and will serve as the headquarters for our global expansion,” said Livspace’s CEO and Co-Founder, Anuj Srivastava. It has also brought ex-Mckinsey and Grab executive Ravindran Shanmugam on board as the country head of Singapore. In India, the company claims to have an 80% market share and works with 3,500 registered designers and has designed 20,000 homes. In May 2019, Livspace had raised funding from Ingka Group – a key franchise partner of Swedish furniture giant, IKEA. The Ingka Group owns and operates 367 IKEA stores contributing to 90% of IKEA’s total retail sales. In September 2018, Livspace raised $70 million in a Series C round funding from TPG Growth and Goldman Sachs, along with its existing investors Jungle Ventures, Bessemer Venture Partners and Helion Ventures.

Home interiors startup Livspace enters Singapore, aims for a $500 million business in 2.5 years

When it comes to buying furniture, no one has the time to do it the old fashioned way, which required the customer to visit the store, browse through catalogues and then find a way to get it made through an <keyword id="6466632" type="POSITION" weightage="20" keywordseo="interior-designer">interior designer</keyword> or a retailer. With the e-commerce boom, buying furniture has been simplified through start-up companies like Pepperfry, HomeLane and <keyword id="2644491" type="PERSON" weightage="20" keywordseo="LivSpace">Livspace</keyword> even as consumers demand more variety for less cost. The unlikely victims of this online buying had been independent designers who saw many customers drop out for better and easier online offers but the situation has been changing. Livspace which is trying to ‘democratize’ home design is trying to bring homeowners and designers and vendors on the same platform and work simultaneously to create better value for both. What that means is that customers can get the expertise of a designer and get the execution done faster with great materials while estimating the cost, which is unheard of. How does it work ●Homeowners typically contact Livspace online and fill a quick form to describe their requirements. They can even shortlist designs from thousands of looks ●Quickly thereafter a designer is assigned to their project, based on their project scope, aesthetic preferences and location. ●The designer meets the homeowner and understands their design, home and lifestyle needs. They present concepts for their home quickly using the software called Canvas.● Once a homeowner likes the initial concepts and books Livspace, they collaborate with their designer to finalize the designs after seeing it all in 3D/virtual reality, experiencing real designs at our Design Centers or experience apartments and touching all materials. ●The final orders are placed and the project plan is shared in the customer account. ●Within a few weeks, a Livspace team of experts delivers and installs every product and service to make their home exactly like the picture. Livspace Canvas Canvas is a cloud-based, design platform which is accessible to all certified <keyword id="107252" type="ORGANIZATION" weightage="60" keywordseo="interior">interior</keyword> designers on Livspace. I tried my hand at the software and learned how easy it is to manage an interior design project with Canvas where designers can manage all their projects from start to finish in one dashboard and plan spaces in 2D and convert the design to 3D and virtual reality demos. The designers can also auto-generate invoices that are linked to the designs they create in real-time and place orders for all products and services, with no worry about the supply chain and delivery. Interior designers can even create a Virtual reality demo for the customer’s home design which they can access online.

I tried the platform that is using Virtual Reality to help customers find affordable Interior designers in India

New Delhi, May 25 () Bengaluru-based Livspace, which is into home design and renovation, has laid off 450 employees -- 15 per cent of its total workforce -- due to an adverse impact of the coronavirus-induced lockdown. The decision to lay off was taken last week. Earlier this month, leading co-working operator WeWork India also announced laying off nearly 100 employees. Founded in 2015 by Ramakant Sharma and Anuj Srivastava, Livspace provides a three-sided marketplace and a design automation platform that connects homeowners, certified designers and vendors. Livspace uses data science-enabled algorithms to match homeowners with designers (based on style preferences, budget, scope of work and timelines). "Due to the COVID-19 pandemic, like every business in the discretionary purchase sector, Livspace also has experienced a sudden and unpredictable impact on business," the company said in a statement. Earlier in April, its founders gave up their annual salary, the leadership team relinquished their annual bonuses and the company introduced success-based variable pay across the board, it said. "But, we are definitely seeing a more unpredictable recovery path with the conditions still being very unstable, and, in response, we are steering the company in a more focused and leaner direction," Livspace said. The company decided to downsize its employees strength. "About 15 per cent of the organisation or 450 people have been impacted due to this decision, which, honestly, was the last resort for us," Livspace said, adding that it was an extremely difficult decision. Livspace said the company will provide health cover to these 450 employees and their families for the next three months. "Every confirmed employee who has spent more than 3 months at Livspace will receive extra pay proportional to the duration of their service. As a result, people will be receiving anywhere between one to four weeks worth of extra pay," the statement said. This monetary package has been created above and beyond any contractual obligations, it added. In line with contractual requirements, and in addition to the assistance package, employees will receive one month's pay for serving the notice period or in lieu thereof. Anuj Srivastava, co-founder and CEO at Livspace, said, "Letting go of our employees who have helped all of us build this company into the dominant player in our industry is one of the most difficult decisions that we had to take." MJH MKJ

Startup Livspace lays off 450 employees on adverse business impact from COVID-19

<ul><li><keyword id="2644491" type="PERSON" weightage="20" keywordseo="LivSpace">Livspace</keyword> has raised <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">funding</keyword> from Ingka Group – a franchise partner of <keyword id="6371031" type="UNKNOWN" weightage="20" keywordseo="IKEA">IKEA</keyword>. </li><li>The Ingka Group owns and operates 367 IKEA stores – including <keyword id="6429663" type="ORGANIZATION" weightage="20" keywordseo="ikea-india">IKEA India</keyword>.</li><li>Livspace had last raised $70 million in a series C round in September 2018.</li></ul>Indian home design and renovation startup Livspace has raised funding from Ingka Group – a key franchise partner of Swedish furniture giant, IKEA. The Ingka Group which owns and operates 367 IKEA stores contributing to 90% of IKEA’s total retail sales --- made a minority investment in Livspace, today. The details of this deal are yet unknown. “This minority investment aligns closely with the digital direction of Ingka Group and our core business, IKEA Retail,” said Krister Mattsson, Head of Ingka Investments, Ingka Group. In September 2018, Livspace raised $70 million in a Series C round funding from TPG Growth and Goldman Sachs, along with its existing investors Jungle Ventures, Bessemer Venture Partners and Helion Ventures. Livspace, launched in 2015, brings together homeowners and designers and vendors, to ease home design with streamlined communication. “We look forward to the immense collaboration possibilities in areas such as catalogue and marketplace integration, retail technology, and online-to-offline innovations,” said Anuj Srivastava, co-founder and CEO of Livspace. This fresh funding will help the startup develop more products and take them to newer markets. The Ingkar Group also runs the single store in India at Hyderabad – which launched in August 2018 amidst much fanfare. See Also: <a href="https://www.businessinsider.in/pepperfry-partners-with-bankbazaar-to-offer-loans/articleshow/69116169.cms">Pepperfry and Bankbazaar are now offering loans to refurbish homes</a> <a href="https://www.businessinsider.in/after-amazon-pepperfry-launches-wedding-gift-registry-on-its-platform/articleshow/68171208.cms">Indian e-tailers want you to choose the presents that your friends will pay for</a>

IKEA's India partner invests in a home design startup that may in turn serve the Swedish retailer

Gokul Rajaram is Product Engineering Lead at Square. He was most recently the Product Director of Ads at Facebook, and the Product Management Director for Google AdSense. He recently joined LivSpace as its Special Advisor. Business Insider India caught up with him just when he was beginning his day in San Francisco. 
 
1) What led you to join Livspace? 
I joined Livspace because of the founding team. The team compliments each other very well, right from Anuj the founder and CEO to Ramakant and Shagufta of Space Matrix. Livspace helps one design home better; the very concept excited me. 
 
2) What’re the unique internet trends you see in India? 
Food, shelter, clothing and transportation are some of the basic necessities for people. The Internet is helping solve problems in all aspects of human life. Indian companies understand the specific needs of the <a href="http://www.businessinsider.in/searchresult.cms?query=consumers">consumers</a> in India and are designing products accordingly. 
 
US based <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> giants like <a href="http://www.businessinsider.in/searchresult.cms?query=Amazon">Amazon</a> are competing with Indian companies because they are many untapped opportunities here in India with the growth of Internet. 
 
3) What are the current challenges for Indian e-commerce companies? 
One is definitely logistics - the ability to transport goods from the warehouse to the drop location. One has to ensure last mile logistics. The second is payment - there is a lot of <a href="http://www.businessinsider.in/searchresult.cms?query=cash+on+delivery">cash on delivery</a> (COD) in India as compared to other payment channels like debit and credit cards or the use of wallets. The third would be how to encourage the merchants, i.e. the sellers to sell more products online. 
 
Demographics and the usage of mobile define the gap among e-commerce sites when it comes to fashion and other product verticals. 
 
4) What is India’s e-commerce population like? 
A large section of the online population is in the age group of 18 to 25. They are also the largest users of <a href="http://www.businessinsider.in/searchresult.cms?query=smartphones">smartphones</a>. These people increase the mobile engagement of buying products online. In years to come every household will start using mobile to engage in online shopping. 
 
5) What are the current product innovations you’re planning at Square? 
We at Square are looking at consumer friendly solutions in the payments sector. We are currently building products which will enable easier payments methods through debit and credit cards. 
 
Image credit: Indiatimes

Gokul
Rajaram: Every household will start using mobile

<ul><li>A recent survey has showed that more than half of India's smartphone users believe that their device is spying on them.</li><li>As many as 52% Indians believe their smart devices record personal information without their knowledge, a survey by YouGov said on Tuesday.</li><li>More often than not, social media feeds have ads about things that we have just spoken about and not searched for.</li></ul> It was a lazy Sunday evening. I was sitting with a couple of friends and chatting about a company called <keyword id="7797479" type="UNKNOWN" weightage="20" keywordseo="livspaces">Livspaces</keyword>. I had barely heard of the home renovation company and, definitely, had never searched for it. We hadn't thought of redesigning our home since the time we moved into the current rented apartment in Mumbai 18 months ago. Even the last Sunday night, the conversation had moved on from Livspaces within a few minutes because home improvement was not on any of our agenda. I woke up on Monday morning and like most people, the first thing I do is to check my phone. And BAM! There it was-- an ad for Livspaces on my Facebook feed. 
 
 
 
 
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 This was not the first time. The first time I noticed it, sometime in 2018, an ad about eggs seller from New Jersey had popped on my Twitter feed within minutes of a conversation about-- you guessed it-- eggs! And I wasn't alone either. A colleague, Katya Naidu, shared a similar experience with her just as we were discussing this story. 
 
 
 
 
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 Too many people have had similar experiences. Given the spate of 'coincidences', it is hardly a surprise that more than half of India's smartphone users are worried that their devices are spying on them. "People have concerns about their online privacy and losing private data (such as photos, mails, financial information) is people's biggest tech-related fear (with 55% saying it)," according to a survey by YouGov, an Internet-based market research and data analytics firm. A recent report showed that <a href="https://www.businessinsider.in/Its-possible-for-Amazon-employees-tasked-with-listening-to-Alexa-requests-to-figure-out-a-customers-home-address-report-says/articleshow/69031852.cms" data-type="tilCustomLink" target="_blank">Amazon employees were listening</a> to recordings on Alexa and there was much furore before the company clarified. The devices are certainly listening to what you have to say and the apps are throwing up ads based on these personal chats in physical presence of your friends. We are, as a generation, far beyond the point of dependence on technology where one could draw the line. The fear is how far can this go before the technology is misused. SEE ALSO: <a href="https://www.businessinsider.in/Its-possible-for-Amazon-employees-tasked-with-listening-to-Alexa-requests-to-figure-out-a-customers-home-address-report-says/articleshow/69031852.cms" data-type="tilCustomLink" target="_blank">It's possible for Amazon employees tasked with listening to Alexa requests to figure out a customer's home address, report says</a>

How often do you see Facebook ads about things that you were just talking about?

<ul><li>IPL is scheduled to start on April 9 and the final match will be held on May 30.</li><li>Disney+ Hotstar has announced its list of sponsors for <keyword id="10884239" type="UNKNOWN" weightage="20" keywordseo="vivo-ipl-2021">VIVO IPL 2021</keyword>.</li></ul>Disney+ Hotstar has had a strong start to VIVO IPL 2021 and has already signed 10 sponsors for this year's tournament. Dream11 is the co-presenting sponsor, Upstox and Vimal Elaichi are the ‘co-powered by’ sponsors. Phone Pe, Association of Mutual Funds in India (AMFI), Unacademy, Pharmeasy, Livspace, Swiggy, and Parle Agro have signed on as associate sponsors. “IPL is a prime sporting property that provides advertisers an opportunity for real-time consumer engagement on Disney+ Hotstar. Going by the response from the market, IPL 2021 promises to be an even more significant opportunity for brands. All key features such as Super 4s, Super 6s, Fall Of Wickets, Milestones, and Super Savers have sold out within a short period, and we see early closures across categories,” Nitin Bawankule, President - Ad Sales, Star &amp; Disney India. “With a host of innovative advertising formats, targeting on connected TVs, and custom branded content solutions, brands have the unique opportunity to reach a highly engaged and affluent audience through the sharp targeting options available on live sports,” he added The series will be streamed on Disney+ Hotstar in five languages – English, Hindi, Telugu, Kannada, and Tamil and will be exclusively available to subscribers of Disney+ Hotstar VIP (Rs 399 for 12 months) and Disney+ Hotstar Premium (Rs 1499 for 12 months).

Disney+ Hotstar onboards 10 sponsors for VIVO IPL 2021; Dream11 to be the co-presenting sponsor

New Delhi, Dec 18 () Startup ABL Workspaces on Wednesday said it has invested Rs 7 crore to start a new co-working centre, comprising 800 seats, in Noida.
This will be the company's 9th centre in the national capital region. 
ABL Workspaces has taken on lease 40,000 sq feet from landlord to open a co-working centre with 800 desks in Noida, Uttar Pradesh, the company said in a statement.
Starting with 50 seats in 2017, the company now has 5,000 seats and is targetting 15,000 seats by the end of 2020.
Ankur Gupta, co-founder and CEO of ABL Workspaces, said co-working space is in high demand in the nation.
"We are expecting a revenue of almost Rs 50 lakh per month once we achieve 100 per cent occupancy in this new centre," said Akshita Gupta, co-founder of ABL Workspaces.
Bira 91 Beverages, BulBul TV, Etsy, Lodha Group, Livspace, Truly madly, Petrofac and Cynesis are some of its clients. 
According to property consultant Cushman &amp; Wakefield, currently there are 1,000 operational co-working centres, with a capacity of over 4 lakh seats, across six major cities. 
The number of flexible space operators has risen from single digits to about 350 over the last 3-4 years. 
The report estimated user base of flexible workspaces to jump 10 times to nearly 3 million by 2025. At present, 65-70 per cent of demand for co-working spaces comes from large corporates, 15-20 per cent from small &amp; medium enterprises and 10-15 per cent from freelancers and startups. MJH MJH ANU
ANU

ABL Workspaces invests Rs 7 cr to start co-working centre in Noida

How would you feel if your company allows you to get your pet at work, or what if they organize a cake-fight for all the employees in the office itself? 
 
Sounds fun right? This is what <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+startups">Indian startups</a> are currently doing to make their employees imagine more and brainstorm for innovative ideas. What else? On-demand service company, UrbanClap has specially formed a team of four members to organise<a href="http://www.businessinsider.in/The-25-Most-Creative-Companies-In-The-World/articleshow/26221035.cms"> fun activities for the employees</a>. 
 
As reported by The Economic Times, startups like <a href="http://www.businessinsider.in/searchresult.cms?query=TinyOwl">TinyOwl</a>, LivSpace, DogSpot, Junglee Games and Intellipaat belong to a separate generation of startups with a goal of having greater work engagement and more <a href="http://www.businessinsider.in/12-Weird-Things-That-Tech-Companies-Do-To-Make-Their-Employees-More-Creative/articleshow/21096431.cms">out-of-the box ideas</a> that help the startups stand out. 
 
This new breed of startups, fuelled by liberal doses of funding, is basically designing a work culture that emphasizes on creative thinking and collaboration among different departments, which doesn’t happen on a daily basis. To do this, they provide a plethora of activities including health and wellness sessions, team outings, hobby classes, provisions for indoor games, movies, book clubs and much more. 
 
Suresh Bhagavatula, assistant professor of entrepreneurship at the Indian Institute of Management-Bangalore says, "I have a feeling it's a function of boom time. 
 
In a boom time there is a lot of exuberance and positive thoughts or energy around; then people may want to invest in all this. If there is a recession, all this will become much more serious—it's a reflection of what is out there in the economy." 
 "China is not doing too well and I am sure Chinese startups won't be doing the same thing <keyword id="982553" type="UNKNOWN" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> are currently doing," Bhagavatula added. 
 
Bhagavatula, personally, isn’t much convinced with the idea of workplace fun. Bringing in light the other side he says, "It needs to be studied in greater detail than to just say that cool culture leads to better work. There has not been much research done to see whether it is actually a distraction. I assume so at some point it will become." 
 
Recently, DogSpot, a four-year-old pet supply store, has allowed its employees to bring their pets along at work. As per the company’s co-founder Rana Atheya, “it helped fill gaps in inter-department communication.” 
 
For gaming company Junglee Games, one of its periodic poker nights led to the creation of a new variant of the popular three-card game 'teen-patti', called Royal Teen Patti, which has attracted almost 2 million users. 
 
Not just this, but LivSpace, a home design and decor platform held a 48-hour design hackathon that included beer and pizza in the office. The designers were presented 1,000 photographs and design software and "we asked them to create beautiful imagery," said co-founder and CEO, Anuj Srivastava. The company revamped its website with these images, and has been attracting at least 10,000 page visitors since June, from about 3,000 earlier. 
 
"Designers haven't worked in the crazy internet world. They come from partner-driven firms where the culture's different, where owners are God. They take calls from them and here we ask for ideas," said Srivastava 
 
Anand Lunia, founder of seed-stage venture fund IndiaQuotient and also an investor in DogSpot however says, "Startups have realised (that) in their world it's not the number of people but amount of efficiency and effectiveness of each employee (that matters). This needs an environment that is conducive. Ordinary people have to perform extraordinary tasks and have to go beyond their past results." 
 
Even so, investors, too, are beginning to ask entrepreneurs about how they plan to build their startup's work culture, although this is not a prerequisite to signing a cheque. "Smart, experienced investors understand that apart from numbers and metrics it's important to build an organisation, especially at a time where companies are growing fast," said Varun Khaitan, co-founder of UrbanClap, which is backed by SAIF Partners, Accel Partners and Snapdeal co-founders Kunal Bahl and Rohit Bansal. 
 
But the litmus test will be when the chips are down, said entrepreneur-turned-investor Ronnie Screwvala. "If you are 15 days late with salary, will it make a difference if you have a dart board in the office, are eating 'pani puri' on Wednesdays or going to the pub on Fridays? I don't think so," said Screwvala. 
 
"No one has gone through that right now, because they are still in their multiple funding rounds," he added. 
 
Image: thinkstock

Get your pet to work and enjoy a cake fight; things that startups are doing to retain talent

Hyderabad-based businessman <keyword id="15211274" type="General" weightage="50" keywordseo="boinpally-abhishek-rao" source="Orion">Boinpally Abhishek Rao</keyword>, who has been arrested by the Central Bureau of Investigation (<keyword id="6354572" type="General" weightage="80" keywordseo="cbi" source="Orion">CBI</keyword>) in <keyword id="14762568" type="General" weightage="20" keywordseo="Delhi-excise-policy-scam" source="Orion">Delhi excise policy scam</keyword> allegedly involving the national capital's Deputy Chief Minister <keyword id="6354681" type="General" weightage="50" keywordseo="manish-sisodia" source="Orion">Manish Sisodia</keyword>, is associated with several companies. He is a director of Anoos Electrolysis &amp; Obesity Pvt Ltd, Anoos Health &amp; Wellness Pvt Ltd, Robin Distribution LLP, Agasti Ventures, SS Mines &amp; Minerals, Master Sand LLP, Neoverse Realty Pvt Ltd, Zeus Networking Pvt Ltd and Valuecare Esthetics Pvt Ltd. Considered close to a key leader of the ruling party in Telangana, he is the first person from <keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> to be arrested in the case. Rao was allegedly found to be acting as a south lobby. The investigating agency suspects that he committed irregularities through cartelization. Rao is the second person to be arrested in the excise policy. The CBI had earlier arrested Vijay Nair, former CEO of events company- Only Much Louder. The Enforcement Directorate (ED) has also arrested liquor trader Sameer Mahendru of Indo Spirit. He is said to have business links with Arun Ramachandra Pillai, a resident of Hyderabad and one of the persons booked by the CBI in the case. Rao's arrest came after several rounds of raids conducted by the CBI and ED at various places in Hyderabad, including in the office of a media house. He was also reportedly questioned by the CBI a couple of times in the case. According to the CBI investigation, Arun used to collect money from Sameer Mahendru for onward transmission to the accused public servants through Vijay Naidu. The liquor license holders allegedly issued bills to retail vendors to divert funds to public servants involved in irregularities. This is where some companies from Hyderabad are believed to have helped in illegal transactions. Further questioning of the CBI is likely to unearth the role of some other suspects in the case. Six to seven to eight businessmen and a couple of politicians and officials from Telugu states are believed to be involved in the case. The officials hailing from Telugu states are said to be holding key positions in the Delhi government. The Hyderabad-based businessmen were reported having colluded with politicians and officials in the Delhi government to influence the liquor policy of that state to derive monetary benefits from it. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/beware-of-bouncing-cheques-harsher-punishments-may-be-afoot/articleshow/94757668.cms">Beware of bouncing cheques, harsher punishments may be afoot</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/livspace-earmarks-100-mn-to-invest-in-d2c-brands-in-home-segment/articleshow/94755762.cms">Livspace earmarks $100 mn to invest in D2C brands in home segment</a>

You Searched For "livspace" and got 12 results

Home decor company Livspace lays off 100 employees

IANS

This Startup is changing the way people dream of living

BI India Bureau

Home interiors startup Livspace enters Singapore, aims for a $500 million business in 2.5 years

Sanchita Dash

I tried the platform that is using Virtual Reality to help customers find affordable Interior designers in India

Tanya Dubey

Startup Livspace lays off 450 employees on adverse business impact from COVID-19

PTI

IKEA's India partner invests in a home design startup that may in turn serve the Swedish retailer

Sanchita Dash

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