Gravity Raises $15 Million for Home Interior Ecosystem
Bengaluru-based startup Gravity, which specializes in premium home interior materials, has successfully secured $15 million in a combination of equity and debt funding. This funding round was led by Info Edge Ventures and 3one4 Capital, with participation from Alteria Capital, Genesia Ventures, and several angel investors.
About Gravity
Founded by former executives of Livspace, Saurabh Jain and Lalit Mittal, Gravity is dedicated to creating a platform that supports the interior materials ecosystem in India. The startup currently concentrates on kitchen and wardrobe sectors, integrating specialist firms under a unified technology, distribution channel, key account management, and operational framework.
Financial Performance and Future Plans
Gravity reports that its initial portfolio boasts a revenue base in the multi-hundred-crore range and is EBITDA positive. Plans are underway to broaden its offerings to include categories such as doors and windows, lighting, wall surfaces, home automation, and other related interior systems. The newly acquired capital will be directed towards bolstering Gravity’s technology, distribution framework, and key account infrastructure. Additionally, these funds will support category expansion, brand development, and working capital needs.
Leadership Background
Before establishing Gravity, Jain was the CEO of Livspace India, where he contributed significantly to scaling the company to an annual revenue run rate of approximately Rs 1,500 crore. Mittal served as the chief business officer for India, overseeing Livspace’s growth across 30 cities.
Target Market and Vision
Gravity is targeting designers, architects, modular showrooms, and design-and-build studios that are pivotal in material selection and procurement for home interior projects. The aim is to streamline sourcing from a fragmented supplier landscape, enhancing availability, fulfilment, and pricing transparency.
Market Potential
According to Gravity, India’s home interiors market is estimated at around Rs 3.5 lakh crore, with the market for design-specified materials accounting for approximately Rs 1.5 lakh crore.