Ex-Livspace Executives in Talks to Raise $15 Million for New Startup
Former Livspace executives Saurabh Jain and Lalit Mittal are planning to launch a new startup in the interior design sector. The company aims to address material procurement and supply chain challenges.
Former Livspace co-founder and India CEO Saurabh Jain, along with former CBO Lalit Mittal, are reportedly launching a new venture named Gravity. Sources indicate that the startup is in early talks with investors to raise $15 million in funding.
Gravity aims to solve material procurement and supply chain issues within the broader interior design industry. The platform intends to serve independent designers, design studios, and interior platforms, positioning itself as a full-stack provider for home interior materials, rather than a marketplace or supplier.
The startup is expected to officially launch in four to five months. It has already secured early capital from angel investors, including Livspace founder Ramakant Sharma. Gravity plans to build a house of brands focused on premium home interior materials.
Jain and Mittal departed from Livspace in February. Their move aligns with a broader trend of experienced founders launching new ventures in India's rapidly expanding tech landscape. The Indian home interior materials market is estimated at $20 billion, with Gravity entering a competitive space that includes companies like AllHome.