Banking tech startup Gravity raises $1 million from Kettleborough VC
banking tech startup Gravity has raised $1 million in a funding round led by early-stage venture fund Kettleborough VC.
The funds will be employed to enhance “our engineering strength to build the product and take it to the next version, offering the best in product engineering we can,” cofounder and chief executive Satish Krishnaswamy told ET.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisit“Whilst we are engaging with banks on version 1.0, we will have to start product engineering efforts for version 2.0, the next version of Gravity. As a banking tech company, we need to be at least 2 to 3 years ahead of what the industry will demand,” he added.
Founded in March 2024 by Krishnaswamy and Rohit Maroo, the platform enables interoperability among various banking software systems such as core banking systems, payments, loan origination systems, allowing banks to develop customised and contextual products tailored to customer needs.
“We've engaged with around 18 commercial banks in the country. From these, we have completed proof of concept (POCs) with about five. We are in the procurement stage with one or two banks, and we have closed an order with one commercial bank," he said.
According to Krishnaswamy, the Mumbai-based startup will prioritise onboarding 4-5 Indian banks onto Gravity this year
