WillItSurvive
No grouping · acquisition pending · Singapore

Gravity AI

Cloud platform for global supply chain visibility, pursuing a stalled Nasdaq IPO.

Little protection left
Assessed 29 July 2026 · Evidence as of 29 July 2026
Not much stands between this business and its pressures.
On the recordSince 29 July 2026 · Checkable from date unset as of July 2026 · Every call on the record Checkpoint: Nasdaq IPO pricing and listing under ticker HXAI
The call

A tiny, shrinking supply chain software firm awaiting an IPO that keeps getting delayed, competing against much larger players and untested by AI-driven automation.

Gravity AI makes software to track and manage shipments for logistics companies. It is easy for bigger players like E2Open and WiseTech Global to copy what Gravity does, and artificial intelligence agents that can read shipment data and predict delivery times could do much of Gravity's job automatically without needing special software. The one thing that could change this picture is if Gravity signs exclusive long-term contracts with major logistics companies that lock them in as customers, but the company has not yet shown evidence of such deals.

Why
01
AI pressure: Agentic AI tools for ETA prediction, data extraction, and dashboard automation. Agentic AI agents are starting to automate the exact tracking and reporting tasks Gravity AI's platform performs. Could AI do the core job? Yes, likely.
02
Bigger players: E2Open, WiseTech Global, project44, FourKites. These larger supply chain platforms already offer similar visibility tools with far more scale and customer reach. Could a giant copy it? Yes, easily.
03
What protects it. Its First-Mile focus and LSP white-label pitch, though unverified by outside sources, are its only stated points of difference.
What would change this call
Next reported quarterly or annual revenue figure after the -17.6% YoY TTM decline. Would show whether the revenue shrinkage is reversing or continuing.
First post-IPO 10-Q disclosure on supplier concentration and any named LSP white-label contracts. Would show whether the two-supplier 99% dependency persists and whether claimed exclusivity is real.
Key numbers
  • $1.44M TTM revenue, down 17.6% YoY (2026-07-20)
  • 99% of cost of sales from two suppliers (2026-02-06)
  • 18 employees company-wide (2026-07-20)
Named risks
  • TTM revenue declining 17.6% year over year to $1.44 million ahead of IPO pricing. Severity: high
  • Two suppliers account for 99% of cost of sales in 2023 and 2024, high concentration exposure. Severity: high
  • IPO still unpriced more than five months after F-1 filing despite two upsizing amendments. Severity: medium
  • 18-person headcount competing against much larger, named incumbents in a 1,000+ vendor market. Severity: high
  • Core document extraction, ETA prediction, and dashboard workflows overlap with agentic AI targets. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
project44losing toproject44 already sells through LSPs, the same white-label channel Gravity AI claims as a differentiator (as of 2024-05)
FourKiteslosing toNamed by Gravity AI's own F-1 (2026-02-06) as an established, larger competitor with LSP distribution
WiseTech Globallosing toAggressively acquisitive in APAC, Gravity AI's core operating region, per company history
E2Openlosing toNamed directly as a competitor in Gravity AI's F-1 filed 2026-02-06, in a market of 1,000+ vendors
Infor NexuscontestingListed as a named rival in the same F-1 competitive-landscape disclosure (2026-02-06)
Questions people ask
Is Gravity AI profitable?
No profitability data is disclosed, but Gravity AI's trailing twelve month revenue is only about $1.44 million as of July 20, 2026, down roughly 17.6% year over year, suggesting a shrinking, sub-scale business rather than a profitable one.
Has Gravity AI's IPO priced yet?
As of July 20, 2026, Gravity AI's Nasdaq IPO (ticker HXAI) had not priced. It filed its F-1 on February 6, 2026, upsized the offering by 67 percent to about $28 million by May 21, 2026, but no listing date was confirmed months later.
Could AI replace what Gravity AI does?
Gravity AI's core workflows, document extraction, ETA prediction, risk flagging and dashboards, are exactly the tasks agentic AI vendors are targeting. Its own F-1, filed February 6, 2026, earmarks IPO proceeds for future AI development, indicating shipped AI capability is not yet in place.
Who are Gravity AI's biggest competitors?
Gravity AI names E2Open, WiseTech Global, Infor Nexus, project44, and FourKites as competitors in its own SEC F-1 filing (February 6, 2026), operating in a supply-chain visibility software market it describes as having over 1,000 participants.
Who owns Gravity AI?
Gravity AI is a Cayman Islands holding company operating through its Singapore subsidiary Gravity Supply Chain Holdings Pte. Ltd., incorporated November 2021. It remains private as of July 2026, mid-process of a Nasdaq IPO (ticker HXAI) led by underwriter Dominari Securities.
Why does Gravity AI's IPO keep getting delayed or resized?
Gravity AI filed its F-1 on February 6, 2026 seeking about $17 million, confirmed $16.88 million in a March 26, 2026 F-1/A, then upsized to roughly $28 million on May 21, 2026, yet still had no pricing or listing date as of July 20, 2026.
Timeline
  • 2026-07-20IPO still unpriced; stockanalysis.com lists 6,250,000 shares offered at $4 to $5, no confirmed date
  • 2026-05-21Gravity AI upsizes IPO offering by 67 percent, targeting roughly $28 million raise
  • 2026-03-26Gravity AI files F-1/A confirming terms of $16.88 million at $4 to $5 per share
  • 2026-02-06Gravity AI files F-1 registration statement with SEC for Nasdaq listing under ticker HXAI
  • 2021-11Singapore operating subsidiary Gravity Supply Chain Holdings Pte. Ltd. incorporated
  • 2018Company states 2018 as its founding date, with Jiangnan Chen as CEO
Revision history
29 July 2026
First assessed. Little protection left. The text above is fixed as of this date and is not edited afterwards.
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Sources