Former Livspace Executives Raise $15 Million for Home Interiors Startup Gravity
Former Livspace executives Saurabh Jain and Lalit Mittal have raised $15 million for Gravity, their home interiors venture focused on building a technology and operating platform for India’s fragmented interior materials ecosystem.
The funding is a combination of equity and debt and was co-led by 3one4 Capital and Info Edge Ventures, with participation from Alteria Capital, Genesia Ventures and a group of angel investors.
Gravity is initially focused on the kitchen and wardrobe segments. The company is bringing specialist businesses in these categories onto a shared platform covering technology, distribution, key-account management and operations.
The fresh capital will be used to strengthen this infrastructure, expand into additional interior categories, build the brand and support working capital requirements.
Gravity Raises $15 Million in Equity and Debt Funding
Gravity has raised $15 million in its latest financing round as it works to build a broader platform for India’s home interior materials industry.
The round brings together institutional investors and angel investors, with 3one4 Capital and Info Edge Ventures leading the financing. Alteria Capital, Genesia Ventures and angel investors also participated.
The funding combines equity and debt rather than representing an equity-only investment. The company and investors have not disclosed the individual split between the equity and debt components.
The new capital will support Gravity’s technology platform, distribution network and key-account infrastructure. It will also provide funding for expansion into new categories and working capital as the company grows.
Saurabh Jain and Lalit Mittal Bring Livspace Experience
Gravity was founded by Saurabh Jain and Lalit Mittal, who previously held senior positions at Livspace.
Jain previously served as CEO, India at Livspace, while Mittal served as Chief Business Officer, India. Jain helped scale Livspace India to an annualised revenue run rate of approximately ₹1,500 crore, while Mittal led the company’s expansion across 30 cities, according to information provided by Gravity and its investors.
Their new company is addressing a different part of the home interiors business.
Rather than focusing primarily on homeowners looking for interior design services, Gravity is building infrastructure around the materials and procurement layer that supports interior projects.
This includes the businesses and professionals involved in selecting, sourcing and delivering materials for kitchens, wardrobes and other interior systems.
Focuses on the Interior Materials Supply Chain
Building a platform for the fragmented interior materials ecosystem in India.
The company currently starts with specialist businesses across kitchens and wardrobes. These businesses are brought together through common technology, distribution, key-account management and operating infrastructure.
The idea is to make material sourcing more organised for professional buyers who currently deal with multiple suppliers and category-specific businesses.
Gravity is targeting:
- Interior designers
- Architects
- Modular showrooms
- Design-and-build studios
These professionals can influence material selection and procurement for residential interior projects.
According to Gravity, the existing supply landscape remains fragmented across dealers, distributors and single-category suppliers. The company is attempting to create a more integrated operating structure around those relationships.
Why Material Procurement Is a Major Part of Home Interiors
A home interior project involves much more than design.
Once a design is finalised, materials have to be selected, sourced, ordered, delivered and coordinated with project timelines.
For a professional design studio, this can involve managing different suppliers for different categories.
Kitchen materials may come from one set of suppliers, wardrobes from another, while lighting, doors, surfaces and other components can involve additional businesses.
Gravity is building its platform around this operational complexity.
Its objective is to combine different specialist businesses with shared infrastructure so professional customers can access a broader set of materials and services through a more coordinated system.
Gravity Starts With Kitchens and Wardrobes
The company’s initial focus is on two major interior categories: kitchens and wardrobes.
These categories form the starting point for Gravity’s platform and provide the company with an existing base of specialist businesses.
According to 3one4 Capital, Gravity’s initial portfolio has reached a multi-hundred-crore revenue scale and is EBITDA positive. These figures are claims made by the investor and company, rather than independently audited figures disclosed in the funding announcement.
Gravity plans to use the same operating infrastructure as it expands into other parts of the interiors ecosystem.
New Categories Planned Beyond Kitchens and Wardrobes
Gravity’s expansion plans extend beyond its initial kitchen and wardrobe focus.
The company plans to enter additional interior categories including:
Doors and Windows
The company plans to expand into interior and architectural systems involving doors and windows.
Lighting
Lighting is another category included in Gravity’s expansion plans.
Wall Surfaces
The company also intends to expand into wall and surface-related interior materials.
Home Automation
Home automation is among the additional categories Gravity has identified for future expansion.
The company intends to use its existing customer relationships and operating infrastructure as it adds these categories.
Gravity Targets a Large Interior Materials Market
Gravity estimates India’s overall home interiors market at around ₹3.5 lakh crore.
The company estimates the design-specified material market at approximately ₹1.5 lakh crore, or around $15 billion. This refers to material purchases influenced by professional designers, architects, modular showrooms and design-and-build businesses.
These figures are Gravity’s market estimates, not independently established market-size figures.
The startup’s business model is focused on the part of the market where professional specifiers influence product selection and procurement.
This gives Gravity a specific starting point rather than attempting to address the entire home interiors market at once.
Technology Is Central to Gravity’s Operating Model
Technology is one of the major areas where Gravity plans to deploy its new funding.
The company is developing a shared technology infrastructure for the specialist businesses operating within its platform.
The platform is intended to support areas such as:
- Order management
- Distribution
- Key-account management
- Procurement
- Customer service
- Product availability
- Fulfilment
The goal is to create a common operating layer that can support multiple interior material categories.
As Gravity expands, the same infrastructure can potentially be used across additional product segments and customer relationships.
Gravity Plans to Strengthen Distribution and Key-Account Infrastructure
Distribution is another major focus of the latest funding.
Interior materials need to reach design studios, showrooms and project sites at the right time. Managing these movements across multiple categories can add complexity to interior projects.
Gravity plans to strengthen its distribution infrastructure alongside its technology capabilities.
The company is also investing in key-account management, which is aimed at supporting its professional customers across their sourcing requirements.
This approach is designed around the needs of businesses rather than individual consumers purchasing a single product.
Building a Platform Around Designers and Architects
Gravity’s target customers occupy an important position in the interior materials procurement process.
Designers, architects, modular showrooms and design-and-build studios can influence which materials are selected for a project.
Gravity’s platform is designed to support these customers by bringing different specialist businesses and categories onto a shared operating structure.
Co-founder Saurabh Jain said the company wants to make sourcing simpler, more dependable and more efficient for the industry.
Co-founder Lalit Mittal said Gravity aims to bring common capabilities across technology, distribution, procurement and customer service to improve the experience for category businesses and professional specifiers.
Funding Will Also Support Brand Building and Working Capital
Beyond technology and distribution, Gravity plans to allocate part of the new capital toward brand building and working capital.
Working capital is particularly relevant for a business operating across physical materials, inventory, distribution and fulfilment.
As Gravity adds more categories and expands its operating network, its capital requirements can also increase.
The company therefore plans to use the latest funding not only for technology development but also for the operational infrastructure required to support its expansion.
Gravity’s Next Stage Is Multi-Category Expansion
The $15 million funding gives Gravity resources to move beyond its initial kitchen and wardrobe categories.
Its planned expansion into doors and windows, lighting, wall surfaces, home automation and other interior systems would allow the company to serve a wider portion of the materials required for interior projects.
The company is building around a model that combines specialist businesses with shared technology, distribution and operating capabilities.
For Saurabh Jain and Lalit Mittal, the new venture builds on their previous experience in India’s organised home interiors sector while focusing specifically on the materials, procurement and supply infrastructure behind interior projects.
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