Materials Depot, a curated house interiors supplies platform for contemporary Indian houses, has raised $10 million in a Collection A funding spherical co-led by Accel and Stellaris Enterprise Companions.

The spherical additionally noticed participation from Whiteboard Capital, DeVC, Soma Capital, MyAsiaVC, together with a bunch of angel traders together with Ramakant Sharma (Founder & CEO, Livspace), Ankit Nagori (Founder & CEO, Curefoods), Shashvat Nakrani (Founder, Bharatpe), Abhiroop Jayanthi (MD & Companion, Carlyle India), Niraj Singh (Founder & CEO, Spinny), Saurabh Jain (CEO, Livspace India), Abhishek Goyal (Founder & CEO, Tracxn), and Vineet Khanna (Co-Founder, Supertails).

The startup will use the recent capital to strengthen its know-how spine throughout provide chain, stock planning, and in-store assisted promoting, increase its curated product portfolio and unique collections, and scale its offline presence throughout cities.

Based in 2022 by Manish Reddy and Sarthak Agrawal, Materials Depot is constructing a curated, trust-led platform that helps city, design-conscious householders flip inspiration into actuality. The startup stated it combines design intelligence with a responsive provide chain to convey globally impressed collections to Indian houses in weeks slightly than years.

“Constructing and renovating a house in India remains to be a high-stress, low-trust expertise,” stated Manish Reddy, Co-founder of Materials Depot.

“As customers aspire for higher houses and designs, they really feel extraordinarily restricted by the alternatives provided available in the market, and make costly, irreversible selections with little readability on pricing or outcomes. With our design-first method and agile, low-MoQ provide chain, we’re bringing confidence to decision-making, transparency to pricing, and reliability to supply, so householders can give attention to creating houses they honestly love.”

Since inception, the startup claims to have helped greater than 15,000 clients uncover and procure designer supplies for his or her houses and at the moment operates three Expertise Centres in Bengaluru.

Over the subsequent 12-18 months, it plans to increase to greater than 30 Expertise Centres throughout a number of cities and serve over 50,000 clients.

Rahul Chowdhri, Companion, Stellaris Enterprise Companions, stated, “Materials Depot is constructing a one-stop vacation spot in a fragmented and innovation-starved $14 billion house interiors class. As in the present day’s householders grow to be more and more aspirational and extra concerned in designing their houses, Materials Depot’s omni-channel method captures the shopper journey from on-line discovery to seamless offline fulfilment. We’re excited to associate with the crew on their scale-up journey and imagine they’re uniquely positioned to construct a category-defining firm.”

Pratik Agarwal, Companion at Accel stated, “At Accel, we again founders who rebuild damaged classes slightly than optimise round them. House supplies in India stay a low-trust, supplier-led market, at the same time as householders have advanced into knowledgeable, design-driven choice makers. Materials Depot is flipping this mannequin by anchoring the class in design intelligence, provide chain management, and a trusted bodily expertise. We imagine that is how giant, fragmented markets get formalised and the way enduring shopper platforms are constructed. We’re excited to associate with Manish and Sarthak as they set a brand new default for the way Indians construct their houses.”