Bengaluru-based premium home interior materials startup Gravity has raised $15 million in a mix of equity and debt funding in a round led by Info Edge Ventures and 3one4 Capital.
The round also saw participation from Alteria Capital, Genesia Ventures and a group of angel investors. Gravity plans to use the fresh capital to strengthen its technology, distribution and key account management infrastructure, while expanding into new interior material categories and supporting working capital requirements.
Founded by former Livspace executives Saurabh Jain and Lalit Mittal, Gravity is building a technology and operating platform for India’s fragmented interior materials ecosystem. The company currently focuses on the kitchen and wardrobe segments, bringing specialist businesses together through common technology, distribution, key account management and operating infrastructure.
According to Gravity, its initial portfolio of businesses has a multi-hundred-crore revenue base and is EBITDA positive. The startup plans to expand beyond its current categories into doors and windows, lighting, wall surfaces, home automation and other adjacent interior systems.
Expanding the Interior Materials Ecosystem
Gravity is targeting designers, architects, modular showrooms and design-and-build studios, which play a significant role in material selection and procurement for residential interior projects.
The company aims to address the fragmented nature of the interior materials supply chain by creating a more integrated platform for sourcing. Its focus includes improving product availability, fulfilment, pricing visibility and procurement efficiency for industry stakeholders.
The company estimates that India’s home interiors market is worth around ₹3.5 lakh crore, while the design-specified materials segment accounts for approximately ₹1.5 lakh crore.
Founders Bring Livspace Experience
Gravity was founded by Saurabh Jain and Lalit Mittal, both of whom previously held leadership roles at Livspace.
Jain served as CEO of Livspace India and was involved in scaling the business to an annualised revenue run rate of around ₹1,500 crore. Mittal served as Chief Business Officer for India and led Livspace’s expansion across 30 cities.
Their experience in the home interiors and design ecosystem forms a key part of Gravity’s approach as it builds a platform connecting specialist material businesses with the professionals who influence purchasing decisions.
Capital to Drive Category Expansion
The newly raised capital will be deployed across technology, distribution, key account infrastructure, category expansion, brand building and working capital.
With its current focus on kitchens and wardrobes, Gravity intends to broaden its portfolio into multiple adjacent interior systems. The expansion is aimed at creating a larger platform through which designers, architects and other interior professionals can access materials and related solutions.
The funding marks Gravity’s latest step toward building a technology-led infrastructure layer for India’s home interior materials market, with the company seeking to consolidate fragmented supply and make sourcing more streamlined for its target customers.
By: Arushi Agarwal
