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Home interiors startup Gravity, founded by former Livspace executives Saurabh Jain and Lalit Mittal, has raised $15 million in a funding round led
by 3one4 Capital and Info Edge Ventures.
The round includes a mix of equity and debt, with participation from Alteria Capital, Genesia Ventures and a group of angel investors. Gravity has not disclosed the split between equity and debt.
Jain and Mittal launched Gravity after their stints at Livspace, with the startup focused on addressing procurement and supply-chain challenges in India’s home interiors industry.
The company is building a technology-led platform for sourcing and distributing interior materials, targeting interior designers, design studios and other businesses involved in residential projects. Its current categories include materials used for kitchens and wardrobes.
Gravity plans to deploy the fresh capital towards expanding its technology capabilities, strengthening its distribution network and supporting working capital requirements. The startup also intends to expand into additional categories, including doors and windows, lighting, wall surfaces and home automation.
Unlike consumer-facing interior design platforms, Gravity is focusing on the supply side of the industry. Its platform is aimed at making the sourcing and distribution of materials more organised for businesses executing home interior projects.
The fundraise comes as technology startups increasingly target India’s fragmented home improvement and interior materials market. Companies in the sector are using digital platforms and organised supply networks to address challenges around sourcing, availability and distribution.
Jain previously co-founded design platform DezignUp before joining Livspace, while Mittal held senior roles at Livspace and Meesho. Their experience in the technology and home interiors sectors has shaped Gravity’s focus on building infrastructure for interior businesses.
The startup will also focus on growing its network of design and business customers as it builds its presence in India’s home interiors market.
The round includes a mix of equity and debt, with participation from Alteria Capital, Genesia Ventures and a group of angel investors. Gravity has not disclosed the split between equity and debt.
Jain and Mittal launched Gravity after their stints at Livspace, with the startup focused on addressing procurement and supply-chain challenges in India’s home interiors industry.
The company is building a technology-led platform for sourcing and distributing interior materials, targeting interior designers, design studios and other businesses involved in residential projects. Its current categories include materials used for kitchens and wardrobes.
Gravity plans to deploy the fresh capital towards expanding its technology capabilities, strengthening its distribution network and supporting working capital requirements. The startup also intends to expand into additional categories, including doors and windows, lighting, wall surfaces and home automation.
Unlike consumer-facing interior design platforms, Gravity is focusing on the supply side of the industry. Its platform is aimed at making the sourcing and distribution of materials more organised for businesses executing home interior projects.
The fundraise comes as technology startups increasingly target India’s fragmented home improvement and interior materials market. Companies in the sector are using digital platforms and organised supply networks to address challenges around sourcing, availability and distribution.
Jain previously co-founded design platform DezignUp before joining Livspace, while Mittal held senior roles at Livspace and Meesho. Their experience in the technology and home interiors sectors has shaped Gravity’s focus on building infrastructure for interior businesses.
The startup will also focus on growing its network of design and business customers as it builds its presence in India’s home interiors market.
