Material Depot TeamHome interiors materials startup Material Depot has raised $10 million in a Series A funding round led by Accel and Stellaris Venture Partners.
The round also saw participation from Whiteboard Capital, DeVC, Soma Capital, MyAsiaVC, and a group of angel investors including Ramakant Sharma, Ankit Nagori, Shashvat Nakrani, Abhiroop Jayanthi, Niraj Singh, Saurabh Jain, Abhishek Goyal, and Vineet Khanna.
“As consumers aspire for better homes and designs, they feel extremely limited by the choices offered in the market, and make expensive decisions with little clarity on pricing or outcomes. With our design-first approach and agile, low-MoQ supply chain, we’re bringing confidence to decision-making, and reliability to delivery, so homeowners can focus on creating homes they truly love,” said Manish Reddy, co-founder of Material Depot.
The fresh capital will be used to strengthen the Bengaluru-based company’s technology offerings across supply chain, inventory planning, and in-store assisted selling, along with scaling its offline footprint across cities.
Founded in 2022 by Manish Reddy and Sarthak Agrawal, the startup is building a design-led, omni-channel platform to help urban homeowners discover and source interior materials.
The company combines design intelligence with a low minimum order quantity (MoQ) supply chain to offer globally inspired collections with faster turnaround times.
“Material Depot is building a one-stop destination in a fragmented and innovation-starved $14 billion home interiors category. We’re excited to partner with the team on their scale-up journey and believe they are uniquely positioned to build a category-defining company,” said Rahul Chowdhri, Partner, Stellaris Venture Partners.
It currently operates three experience centres in Bengaluru, which are set up to offer pricing, delivery timelines, and assisted decision-making for customers to compare and select materials.
Since inception, the company said it has helped more than 15,000 customers discover and procure designer materials.
Over the next 12–18 months, Material Depot plans to expand to more than 30 Experience Centres across multiple cities and serve over 50,000 customers.
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