Former Livspace Executives’ Startup Gravity Leads the Week With $15 Million in Equity and Debt Funding
Bengaluru-based premium home interior materials startup Gravity has raised $15 million, around Rs 143 crore, in a mix of equity and debt funding led by Info Edge Ventures and 3one4 Capital, with participation from Alteria Capital, Genesia Ventures, and a group of notable angel investors, including founders of investment funds, listed companies and leading startups, making it the top funding deal of the week.
Here’s the founder story behind this. Gravity was founded by Saurabh Jain and Lalit Mittal, both former senior Livspace leaders. Jain previously served as CEO of Livspace India, where he helped scale the company to an annualised revenue run rate of around Rs 1,500 crore, while Mittal served as Chief Business Officer for India and led Livspace’s expansion across more than 30 cities, operating experience that’s now shaping an entirely new category.
Here’s what Gravity is actually building. Rather than launching another home design marketplace, Gravity is building a full-stack, technology-led platform for India’s fragmented interior materials ecosystem, currently operating in the kitchen and wardrobe categories by bringing together specialist businesses under a shared infrastructure of technology, distribution, key account management, and operations. Gravity said its initial portfolio already sits on a multi-hundred-crore revenue base and is EBITDA positive, a notable starting point for a startup’s very first institutional round.
The target customer and the roadmap are both clearly defined. Gravity is building specifically for designers, architects, modular showrooms and design-and-build studios, the people who actually influence material selection and procurement for home interior projects, aiming to simplify sourcing across fragmented suppliers while improving availability, fulfilment and pricing transparency. With this fresh capital, the company plans to strengthen its technology, distribution and key account infrastructure, expand into adjacent categories like doors and windows, lighting, wall surfaces and home automation, and invest in brand building and working capital.
From scaling Livspace’s design business to now fixing materials sourcing from the supply side, Jain and Mittal’s bet with Gravity is that India’s organised home interiors market still has a much bigger infrastructure problem to solve.
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— Sandeep Raiza