Material Depot Raises $10 Million to Scale Omnichannel Home-Interiors Marketplace

Overview

• The Series A was co-led by Accel and Stellaris Venture Partners, with participation from Whiteboard Capital, DeVC, Soma Capital, MyAsiaVC and angels including Ramakant Sharma, Ankit Nagori, Shashvat Nakrani, Niraj Singh, Abhishek Goyal and Vineet Khanna.
• New funding will support additional experiential stores in Bengaluru and Hyderabad over the next few months and upgrades to tech spanning 3D visualisation, product design, supply chain, inventory planning and in‑store assisted selling systems.
• Material Depot currently runs three experience centres in Bengaluru and handles delivery with an in‑house leased fleet, focusing on Bengaluru and Hyderabad while offering pan‑India fulfilment on a case‑by‑case basis.
• Private‑label products account for roughly 60% of the catalogue via Indian contract manufacturing, with about 10% of materials imported from China, South Korea and Vietnam.
• Founded in 2021 and part of Y Combinator’s Winter 2022 cohort and Accel Atoms, the company has raised about $14.5 million to date.