Mistry.Store has raised $2 million in seed funding led by Omidyar Network India, a social impact investment firm.
The round was also backed by Waveform VC and Bharat Founders, along with angel investors such as Oyo’s Maninder Gulati, Cars24 founder Vikram Chopra and Swiggy CEO Rohit Kapoor.
Currently focused only on the Delhi-NCR region, Mistry.Store aims to use the funding to create a comprehensive technology solution for home interior professionals and their homeowner customers.
Founded by Vaibhav Poddar and Bhanu Mahajan in 2022, Mistry.Store operates as an online store for building materials and home interiors such as wood, plumbing, hardware and paints for homeowners. The platform primarily aims to enable home interior professionals such as architects, interior decorators, contractors, etc. to procure building materials on behalf of their clients.
Vaibhav Poddar, Founder of Mistry.Store, said, “While this market is highly organized in western countries, the Indian market is yet to no significant player has emerged due to local market dynamics.”
Companies such as The Home Depot and Lowe’s have a significant presence in the North American market. with retail stores in the US, Canada and Mexico. Indian consumers, on the other hand, rely on local suppliers for their building materials and home interior needs.
Home interiors in India is a $25 billion market, employing more than five million people and expected to reach $38 billion by 2027. Indian companies like Pepperfry and Urban Ladder already offer home decor and furniture on their platforms, but not building materials and interior supplies.