Amid layoffs and cofounder departure, Livspace CBO Lalit Mittal resigns

Livspace’s chief business officer Lalit Mittal has exited the company, following the recent departure of cofounder Saurabh Jain.

“We can confirm that Lalit Mittal, who served as our Chief Business Officer, transitioned out of the company over a month ago,” a company spokesperson said in a statement. According to the statement, Mittal has decided to pursue his own entrepreneurial journey after spending six years at Livspace. “We are incredibly grateful for his contributions and leadership during his tenure, and wish him the absolute best as he builds his next venture,” the spokesperson added.

Jain had earlier exited the company after 11 years to pursue his entrepreneurial interests. It remains unclear who will take over Mittal’s responsibilities. The development was first reported by Moneycontrol.

Mittal joined Livspace in November 2019 as senior director, business initiatives. He later became chief executive of Livspace Direct, the company’s modular furniture vertical, before stepping into the CBO role in January 2022. Prior to Livspace, he had a brief stint at Meesho and cofounded Labstreet, an on-demand healthcare diagnostics startup.

The Ikea-backed startup has laid off around 1,000 employees, or roughly 12% of its workforce, over the past six months as part of an internal reorganisation linked to artificial intelligence adoption.

Founded in 2015 by Ramakant Sharma and Anuj Srivastava, Livspace connects homeowners with designers and vendors for end-to-end home interiors. The company became a unicorn in 2022 after raising $180 million at a valuation exceeding $1 billion.

Last year, Srivastava transitioned to the role of chairman of the board, while Sharma, then chief operating officer, took over as chief executive. For the fiscal year ended March 2025, the company reported revenues of $231 million and a net loss of $39 million.