Material Depot, a Bengaluru-based home interiors materials platform, has secured $10 million in Series A funding led by Accel and Stellaris Venture Partners, with participation from several VC firms and seasoned angel investors. The round underscores investor confidence in the startup’s effort to bring transparency, structure and design-led sourcing to India’s fragmented home interiors market.
Founders target persistent gaps in interiors sourcing
Founded in 2022 by Manish Reddy and Sarthak Agrawal, Material Depot aims to simplify the end-to-end material selection process for homeowners undertaking builds or renovations. The founders identified persistent inefficiencies—limited product information, inconsistent pricing and unreliable supply chains—that cause costly errors and last-minute compromises for consumers.
The company combines curated product choices, transparent pricing and predictable delivery timelines with design intelligence and assisted buying. By integrating strong supplier partnerships and guided decision-making, Material Depot seeks to help customers move seamlessly from inspiration to execution.
Investor backing highlights market potential
Alongside Accel and Stellaris, the round included Whiteboard Capital, DeVC, Soma Capital and MyAsiaVC, as well as angel investors from India’s startup and consumer ecosystem. Backers include founders and executives from companies such as Livspace, BharatPe, Spinny, Tracxn, Curefoods and Supertails, reflecting belief in a structural opportunity in home interiors materials.
Industry estimates place India’s home interiors market at roughly $14 billion, a largely unorganised segment when it comes to the end-to-end consumer experience. Rising urban homeownership and growing design awareness are expected to drive demand for platforms that prioritise trust, consistency and user experience.
Omni-channel approach to bridge the trust gap
Material Depot operates an omni-channel model that blends digital discovery with offline experience centres. Customers can research products online and then visit physical locations to see, touch and compare materials—an approach designed to reduce uncertainty in high-value renovation purchases.
The startup currently runs three experience centres in Bengaluru, which serve as key touchpoints for assisted selling and design guidance. The company intends to expand this offline footprint substantially in the coming year.
Planned use of funds and expansion roadmap
The $10 million will be allocated across technology, product and geographic expansion. Material Depot plans to strengthen its tech stack—focusing on inventory planning, supplier coordination and last-mile execution—to improve supply reliability and delivery predictability.
Investment will also go into enlarging a curated product catalogue and launching exclusive material collections tailored to Indian homes. Geographically, the company aims to open more than 30 experience centres across major Indian cities over the next 12–18 months and grow its customer base from about 15,000 users to over 50,000 homeowners.
Positioned for shifting consumer preferences
As Indian consumers increasingly treat homes as long-term lifestyle investments, demand for reliable, design-first material sourcing is rising. With clear execution plans, expanding customer traction and strong investor support, Material Depot is positioning itself as a prominent player in the evolving home interiors materials landscape.
