BENGALURU, India — Material Depot, a curated home interiors materials platform focused on modern Indian homes, has raised $10 million in a Series A funding round co-led by Accel and Stellaris Venture Partners.
The round also saw participation from Whiteboard Capital, DeVC, Soma Capital, and MyAsiaVC, along with a group of prominent angel investors including Ramakant Sharma (Livspace), Ankit Nagori (Curefoods), Shashvat Nakrani (BharatPe), Abhiroop Jayanthi (Carlyle India), Niraj Singh (Spinny), Saurabh Jain (Livspace India), Abhishek Goyal (Tracxn), and Vineet Khanna (Supertails).
Funding to Strengthen Technology, Supply Chain and Offline Expansion
Material Depot plans to use the fresh capital to strengthen its technology backbone across supply chain management, inventory planning, and in-store assisted selling. The company will also expand its curated product portfolio and exclusive collections, while scaling its offline Experience Centre network across key cities.
The expansion reflects growing demand from urban homeowners seeking design-led, transparent, and reliable alternatives in a traditionally fragmented home interiors market.
Reimagining How Indians Build and Renovate Homes
Founded in 2022 by Manish Reddy and Sarthak Agrawal, Material Depot is building a trust-led, omni-channel platform that helps design-conscious homeowners translate inspiration into execution. By combining design intelligence with a responsive supply chain, the company brings globally inspired materials to Indian homes in weeks rather than years.
“Building and renovating a home in India is still a high-stress, low-trust experience,” said Manish Reddy, Co-founder of Material Depot.
“As consumers aspire for better homes and designs, they feel extremely limited by the choices offered in the market, and make expensive, irreversible 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, transparency to pricing, and reliability to delivery, so homeowners can focus on creating homes they truly love.”
Growing Customer Base and Physical Presence
Since inception, Material Depot claims to have helped more than 15,000 customers discover and procure designer materials for their homes. The company currently operates three Experience Centres in Bengaluru, which allow customers to explore materials, finishes, and collections in a guided, physical setting.
Over the next 12 to 18 months, Material Depot plans to expand to more than 30 Experience Centres across multiple cities and serve over 50,000 customers, strengthening its position as a national home interiors materials platform.
Investor Confidence in a Large, Fragmented Market
Commenting on the investment, Rahul Chowdhri, Partner at Stellaris Venture Partners, said the company is addressing a major gap in a $14 billion home interiors category that remains fragmented and underserved.
“Material Depot is building a one-stop destination in a fragmented and innovation-starved home interiors category. As today’s homeowners become increasingly aspirational and more involved in designing their homes, Material Depot’s omni-channel approach captures the customer journey from online discovery to seamless offline fulfilment,” he said.
Pratik Agarwal, Partner at Accel, added that the startup is rebuilding a broken category rather than optimising around existing inefficiencies.
“Home materials in India remain a low-trust, supplier-led market, even as homeowners have evolved into informed, design-driven decision makers. Material Depot is flipping this model by anchoring the category in design intelligence, supply chain control, and a trusted physical experience,” he said.
With strong backing from leading venture firms and seasoned founders, Material Depot is positioning itself to formalise India’s home interiors materials market, combining technology, design, and offline trust to redefine how Indian homes are built and renovated.
Ruchi Kumar is the associate editor at Entrepreneur News Network and TVW News India, where she leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape.