The company spokesperson said that CBO-India Lalit Mittal had resigned over a month ago
Mittal’s exit comes days after the startup’s cofounder and India CEO Saurabh Jain also quit to pursue “personal interests”
CFO Saurabh Agarwal also quit after a five year-long stint in June 2025, and he was succeeded by Myntra’s former CFO Abhishek Gupta recently
Days after seeing the departure of its cofounder Saurabh Jain, home decor startup Livspace’s chief business officer- India (CBO-India) Lalit Mittal has also put down his papers. A company spokesperson told Inc42 that Mittal had resigned over a month ago.
“Mittal has decided to embark on his own entrepreneurial journey after an incredible 6 years with us where he drove a 4x business growth. We view these transitions as a natural evolution of a mature, high-growth organisation,” they added.
Bussiness was first to report on the development.
Mittal had joined the startup as a senior director of business initiatives in 2019. During his over six years long stint with Livspacethe IIT-Delhi alum held multiple positions — AVP- new business initiatives (till April 2021), CEO – Livspace Select (till December 2021) and CBO – India (for over four years).
Prior to his stint with Livspace, he worked with Meesho as AVP- services for five months. With an overall experience of almost 20 years, Mittal has worked with Tolaram Group and HolidayIQ, among others.
Important to note that he also cofounded an on-demand healthcare diagnostics startup Labstreet in 2014, which was soon acquired by Niramaya Healthcare in 2016.
Mittal’s exit comes days after the startup’s cofounder and India CEO Saurabh Jain also quit to pursue “personal interests”. Earlier to these exits, CFO Saurabh Agarwal resigned after a five year-long stint in June 2025. Agarwal was succeeded by Myntra’s former CFO Abhishek Gupta recently.
Besides the top deck turmoil, Livspace has also undertaken an aggressive workforce reduction in recent months. The startup has laid off 1,000 employees or about 12% of its workforce reduction over the past six months.
The startup is displacing roles across functions like sales, operations, design, and marketing by integrating advanced AI agents and automation across these functions.
As the interior design unicorn transitions towards becoming an AI-native, agentic organisation, a spokesperson told Inc42 earlier last week that it is focussed on a leadership structure that aligns with this tech-first future.
Founded in 2014, Livspace operates an omnichannel home interiors and renovation platform which connects homeowners with professional interior designers, contractors and vendors for design.
It has raised over $450 Mn in capital to date from the likes of KKR, Ingka Group Investments (IKEA’s parent), TPG Growth, Goldman Sachs, Bessemer Venture Partners and Jungle Ventures, among others.
On the financial front, the home decor startup trimmed its net loss by 43% in the fiscal year FY25 to ₹242.6 (SGD 38.42 Mn) from ₹461.7 Cr (SGD 67.65 Mn) loss it incurred in the previous fiscal year. Livspace’s Singapore entity reported a revenue from continuing operations of INR 1459.3 Cr (SGD 231.01 Mn), almost a 23% rise from INR 1,216.2 Cr (SGD 192.49 Mn) in FY24.
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