Regent’s alumnus, Riccardo Tessaro, has secured a £1.1 million investment in his start-up, Gravity Co-Living, which offers community-centered, design-led places to live and work in London.
Gravity, founded in 2018, provides flexible and community-based living for globally mobile graduates and young professionals. Having raised £1.6m to date, and with a projected revenue of £3m, Gravity is set to expand beyond its four London locations into Europe in 2021.
When Regent’s last spoke with Riccardo and fellow alumnus and Gravity investor, Nils-Christian Folkesson, in October 2020, Gravity was surging in popularity. With the continued impact of lockdown loneliness, especially for those in the 18-35 age bracket, Gravity remains a popular choice for those looking for a community-based lifestyle.
With the financial backing to expand into new markets, such as Paris and Barcelona, Gravity is also set to continue the growth of its team, which has doubled since March 2020.
‘It feels great to know that investors and stakeholders believe in our business model and the team’s ability to execute our idea' comments Ricardo. ‘We are very well positioned to accelerate our expansion plans for Europe.’
Following this announcement, and reflecting on his entrepreneurial journey since graduating, Riccardo’s message to Regent’s students is that 'perseverance is key'.