Two former Livspace leaders are raising money for a new startup. Saurabh Jain and Lalit Mittal are in talks to raise $15 Mn for their venture, Gravity, sources told Inc42.
The $15 Mn round is a mix of equity and debt, according to Inc42. That is about Rs 143 Cr. Gravity has held early talks with 3one4 Capital and InfoEdge, the same report said.
Gravity is building what it calls a house of brands for premium homes. It wants to be a full-stack platform for home interior materials. Inc42 reported that the startup will not run as a marketplace or a supplier.
The company is still in stealth mode. It plans to come out in four to five months, the sources said. Its stated aim is to fix material procurement and supply chain problems for the interior design industry.
India’s home interior materials market is worth about $20 Bn, Inc42 reported. Gravity will compete with AllHome, a startup founded by PharmEasy’s cofounders. AllHome recently raised Rs 200 Cr from Bessemer Venture Partners.
Saurabh Jain cofounded Livspace and ran its India business as CEO. Before Livspace, he founded DezignUp, which was acquired in 2014. He is an IIT Delhi alumnus and once worked as a management consultant.
Lalit Mittal is also an IIT Delhi alumnus. He was an AVP at Meesho before he joined Livspace in 2019. He rose to chief business officer for India during his time there.
Both men quit Livspace in February 2026. Their exit came days after Livspace laid off 1,000 people, about 12% of its staff, amid an AI push. Livspace reported revenue of Rs 1,460 crore for the year ending March 2025.
One detail complicates the “new venture” label. Venture Intelligence reported that Gravity had already raised about $0.44 Mn from Kettleborough VC in May 2024. Questions sent to Jain and Mittal drew no response before Inc42 published.
What this means for you: If you build in home interiors or proptech, a well-funded, founder-led rival is about to enter a $20 Bn market. Watch for Gravity’s launch in the next two quarters.
Have a tip? Write to us at editorial@startupfeed.in.
Liked this story? Follow StartupFeed on Google so our reporting reaches you first.
