Material Depot raises $10 million to expand its home interior materials marketplace
Material Depot, a Bengaluru startup making it easier to source home interior materials, just raised $10 million in Series A funding.
The round was led by Accel and Stellaris Venture Partners, with backing from Whiteboard Capital, DeVC, Soma Capital, MyAsiaVC, and well-known angels like Livspace's Ramakant Sharma and Curefoods's Ankit Nagori.
Online-plus-offline platform for home interior materials
Founded in 2022 by Manish Reddy and Sarthak Agarwal, Material Depot runs an online-plus-offline marketplace for things like plywood, laminates, tiles, and wallpapers.
Their platform features 3D visualization tools to help people design spaces before buying.
Most products are sourced from Indian manufacturers; some come from China, South Korea, and Vietnam.
Plans to open over 30 experience centers across India
With three experience centers already open in Bengaluru, Material Depot plans to launch 30+ more across major cities over the next year or so.
They're aiming for over 50,000 customers—including designers and contractors—with fresh funding set to power their expansion and tech upgrades.