Bengaluru | February 5, 2026: Material Depot, a curated home interiors materials platform for modern Indian homes, has raised $10 million in Series A funding, co‑led by Accel and Stellaris Venture Partners, with participation from Whiteboard Capital, DeVC, Soma Capital, MyAsiaVC, and a distinguished group of 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).
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 multiple cities.
Founded in 2022 by Manish Reddy and Sarthak Agrawal, Material Depot is building a trust‑led, design‑first platform that helps urban, design‑conscious homeowners turn inspiration into reality. By combining global design intelligence with a responsive supply chain, the company delivers curated collections to Indian homes in weeks instead of years.
Its Experience Centres provide transparent pricing, reliable delivery timelines, and assisted decision‑making, enabling customers to visualize, compare, and confidently choose materials in one place.
Manish Reddy, Co‑Founder, Material Depot, said: “Building and renovating a home in India is still a high‑stress, low‑trust experience. With our design‑first approach and agile 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.”
Rahul Chowdhri, Partner, Stellaris Venture Partners, said: “Material Depot is building a one‑stop destination in a fragmented $14 billion home interiors category. Their omni‑channel approach captures the customer journey from online discovery to seamless offline fulfilment. We believe they are uniquely positioned to build a category‑defining company.”
Pratik Agarwal, Partner, Accel, added: “Home materials in India remain a low‑trust, supplier‑led market. Material Depot is flipping this model by anchoring the category in design intelligence, supply chain control, and trusted physical experiences. This is how fragmented markets get formalised and enduring consumer platforms are built.”
Growth & Expansion
- Served 15,000+ customers since inception.
- Currently operates three Experience Centres in Bengaluru.
- Plans to expand to 30+ centres across multiple cities in the next 12–18 months.
- Targeting to serve 50,000+ customers in the near term.
About Material Depot
Material Depot is a curated home interiors materials platform simplifying how homeowners discover, visualize, and source materials. Its portfolio spans tiles, laminates, wall panels, wallpapers, quartz, plywood, wooden flooring, and more, offered through a combination of digital channels and physical Experience Centres. Headquartered in Bengaluru, the company is expanding across key metro markets.
About Stellaris Venture Partners
Stellaris Venture Partners is an early‑stage, tech‑focused VC firm supporting fearless founders. Managing $600M+ in assets, Stellaris invests across AI, SaaS, Consumer, Financial Services, B2B Commerce, Education, Mobility, and Healthcare, with portfolio leaders including Mamaearth, Whatfix, Propelld, Turno, Dashverse, and Kiwi.
About Accel
Accel is a global venture capital firm backing exceptional teams from inception through growth. Over 40+ years, Accel has supported iconic companies including Atlassian, Bumble, CrowdStrike, Fiverr, Flipkart, Freshworks, Qualtrics, Slack, Spotify, Squarespace, Tenable, and UiPath.
Website: www.accel.co
