Deepinder Goyal Raises 54 Million Dollars for Wearable Startup Temple at 190 Million Dollar Valuation
February 28, 2026
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- Sun, 1 March 2026
Material Depot has raised 10 million dollars 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, along with several prominent founders and operators as angel investors.
India’s home interiors market remains fragmented, supplier driven and often opaque for consumers. Despite rising aspirations, homeowners continue to face limited choice, unclear pricing and long lead times.
Investors see Material Depot as a platform that can formalise this market by anchoring it around design intelligence, trust and supply chain control.
Founded in 2022 by Manish Reddy and Sarthak Agrawal, Material Depot is a curated materials platform focused on modern Indian homes. The company helps design conscious homeowners turn inspiration into finished spaces through curated collections and a guided buying experience.
Its model combines global design inspiration with a responsive supply chain that can deliver materials in weeks instead of years.
According to the founders, building or renovating a home in India is still a high stress and low trust experience. Material Depot aims to change this by offering transparent pricing, clear design guidance and reliable fulfilment.
The platform uses a design first approach and an agile supply chain with low minimum order quantities, helping customers make confident and informed decisions.
Since inception, Material Depot says it has served more than 15,000 customers and currently operates three Experience Centres in Bengaluru.
These centres play a key role in blending online discovery with offline assisted selling, allowing customers to see, feel and compare materials before buying.
Over the next 12 to 18 months, the startup plans to expand to more than 30 Experience Centres across multiple cities and serve over 50,000 customers.
The newly raised capital will also be used to strengthen its technology across supply chain operations, inventory planning and in store assisted selling, while expanding its exclusive and curated product collections.
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