Home interiors startup Gravity has raised $15 million (around Rs 142.7 crore) in a new funding round led by 3one4 Capital and Info Edge Ventures. The round also saw participation from Alteria Capital, Genesia Ventures and a group of angel investors.
The funding was a mix of equity and debt, although Gravity has not shared the exact split between the two.
Funding to Strengthen the Platform
Gravity plans to use the fresh capital to strengthen its technology, distribution and key-account infrastructure.
The startup will also use the money to expand into new categories, build its brand and support the working capital needed as the business grows.
Founded by former Livspace executives Saurabh Jain and Lalit Mittal, Gravity is building a common platform for India's interior materials industry.
The company brings together specialist businesses, especially in the kitchen and wardrobe segments, and gives them shared technology, distribution, procurement, key-account management and other operating support.
Making Interior Material Sourcing Easier
The home interiors market has become more organised over the past decade, but the materials side of the industry remains highly fragmented.
Designers, architects, studios and suppliers often have to deal with multiple dealers, distributors, systems and suppliers to complete a single project.
Gravity wants to make this process simpler by bringing different parts of the supply chain together on one platform.
Saurabh Jain, Co-founder of Gravity, said the company is focused on making sourcing more simple, reliable and efficient. He added that the goal is to combine a wide range of products with strong service, availability and execution at scale.
Focus on Designers and Studios
Gravity believes the Indian home interiors market is going through an important shift.
Designers, architects, modular showrooms and design-and-build studios are increasingly influencing which materials customers choose. However, the supply network is still spread across dealers, distributors and businesses focused on individual categories.
Gravity aims to improve availability, service, fulfilment and pricing visibility for these customers.
Lalit Mittal, Co-founder of Gravity, said designers and studios influence a large part of material decisions, but sourcing across different categories can still take a lot of time and effort.
He said Gravity is bringing common technology, distribution, procurement and customer service capabilities together to create a smoother experience for both category businesses and their customers.
Expanding Beyond Kitchens and Wardrobes
Gravity currently focuses on categories such as kitchens and wardrobes, but the startup plans to expand further.
Its upcoming categories could include doors and windows, lighting, wall surfaces and home automation.
The company plans to use its existing customer relationships and operating infrastructure across these new categories, helping it build a wider platform for India's interior materials ecosystem.
With fresh capital now in hand, Gravity is looking to grow its technology, distribution network and category presence while making the sourcing of interior materials easier for businesses across the country.
