Gravity, a home interior design platform founded by former Livspace executives Saurabh Jain and Lalit Mittal, has raised $15 million in a combination of equity and debt. The funding round was led by 3one4 Capital and Info Edge Ventures, with participation from Alteria Capital, Genesia and a group of angel investors.
Saurabh Jain, who co-founded Livspace, and Lalit Mittal, its former Chief Business Officer, founded Gravity as a technology platform focused on the home interiors industry. Jain confirmed the latest funding round to The Economic Times.
The company is positioning Gravity as a technology layer for the home interiors sector, with a focus on bringing technology and organised processes to an industry that has traditionally operated through fragmented networks of designers, contractors and service providers.
“Gravity is a technology platform layer for the industry,” Jain said. “We are a platform that brings institutional-grade”
The latest funding brings together equity and debt financing, with 3one4 Capital and Info Edge Ventures leading the round. Alteria Capital, Genesia and angel investors also participated.
The fundraise comes as Gravity builds its technology-led approach to the home interiors market. The company was founded by Jain and Mittal following their previous experience at Livspace, where they were involved in building and operating a home interiors business.
Jain previously co-founded Livspace, while Mittal served as the company’s Chief Business Officer. Their experience at Livspace provides the founding team with prior exposure to the organised home interiors market as they develop Gravity.
The latest capital will support Gravity as it continues to build its platform for the home interiors industry. The company is focused on using technology to create a structured layer for the sector and support the different stakeholders involved in interior design and execution.
The funding also adds Gravity to the growing group of technology-focused companies operating in India’s home interiors market. The sector has seen increasing efforts to use technology and artificial intelligence to improve design, project execution, customer experience and operational efficiency.
For Gravity, the latest $15 million round provides a combination of equity and debt capital as it develops its platform and expands its operations. The participation of 3one4 Capital, Info Edge Ventures, Alteria Capital, Genesia and angel investors brings together institutional and individual investors in the company’s latest financing.
Founded by the former Livspace executives, Gravity is building its business around the idea of providing technology infrastructure for the interiors industry rather than operating only as a conventional interior design services company.
The new funding marks the latest stage in Gravity’s development as it works to build its technology platform and expand its presence in the home interiors market.
