Interior building material platform Mistry.Store announced it has raised $2 million in a seed funding round led by Omidyar Network India.
Waveform VC and Bharat Founders Fund, along with marquee angel investors such as Maninder Gulati (OYO), Vasant Sridhar (Co-founder, OfBusiness), Sumer Juneja (Managing Partner, SoftBank), Vikram Chopra (Founder, Cars24), Rohit Kapoor (CEO, Swiggy), Alok Mittal (Founder, Indifi) and Sharad Goenka (COO, Globalfaces), amongst others, also participated in the round.
Founded by Vaibhav Poddar and Bhanu Mahajan in 2022, Mistry.Store is a platform simplifying building material purchases like wood, plumbing, paints, hardware, and electricals for homeowners.
Home interiors is a market worth more than $25 billion in India, employing over five million professionals. However, it continues to be fragmented with problems like price opacity, counterfeit products, poor customer service and ad-hoc professional fees. “Mistry.Store will use the funding to transform home-building material purchases by creating an end-to-end tech-enabled solution for home interior professionals and their homeowner customers.,” said a press release.
Speaking about the fundraise, Mistry.Store’s founder Vaibhav Poddar said, “Renovating or building your home in India is always an expensive and tiresome experience. We at Mistry.Store are aiming to simplify the material purchasing journey which is typically led by home interior professionals. While this market is highly organized in western countries, no significant player has emerged yet in the Indian market, owing to local market dynamics. We aim to keep the home interior professionals our “north-star” and create a community and an ecosystem for them to improve their business and personal outcomes.”