Home interiors platform Material Depot raises $10M co-led by Accel and Stellaris Venture Partners
The fresh capital will be deployed to strengthen Material Depot’s technology backbone across supply chain, inventory planning, and in-store assisted selling, expand its curated product portfolio and exclusive collections, and scale its offline presence across cities.
Material Depot, a home interiors materials platform, 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, MyAsiaVC, and several angel investors, including Ramakant Sharma of Livspace, Ankit Nagori of Curefoods, Shashvat Nakrani of Bharatpe, Abhiroop Jayanthi of Carlyle India, Niraj Singh of Spinny, Saurabh Jain of Livspace India, Abhishek Goyal of Tracxn, and Vineet Khanna of Supertails.
The company plans to deploy the capital toward strengthening its technology infrastructure, particularly across supply chain management, inventory planning, and in-store assisted selling systems. Funds will also support expansion of its product catalogue and offline footprint.
Founded in 2022 by Manish Reddy and Sarthak Agrawal, Material Depot operates a curated platform designed to simplify how urban homeowners discover and purchase interior materials. The company uses a structured sourcing and logistics model to improve access to a wider range of products. Its experience centres are built to provide clearer visibility into pricing, delivery timelines, and product comparisons, helping customers make informed decisions in a single location.
Reddy said the home renovation process in India continues to be marked by uncertainty and fragmented choices, often leaving customers to make costly decisions without adequate clarity. He noted that Material Depot is attempting to address these gaps through design-led curation, more transparent pricing structures, and a supply chain model intended to improve reliability and predictability for homeowners.
Material Depot says it has served over 15,000 customers to date and currently operates three experience centres in Bengaluru. Over the next 12 to 18 months, the company plans to expand into additional cities, with a goal of operating more than 30 centres.
Rahul Chowdhri, Partner at Stellaris Venture Partners, said the home interiors market remains highly fragmented despite growing consumer interest in design-led living spaces. He added that platforms combining online discovery with offline fulfilment could play a larger role as homeowners seek more structured and convenient purchasing experiences.