Thursday, December 1, 2022
HomeInsightFunding Alert Mistry.Store raises seed funding led by Omidyar India

[Funding alert] Mistry.Store raises seed funding led by Omidyar India

Platform for selling building supplies for homes, Mistry.Store, secured $2 million in seed funding from Omidyar Network India, an investment company that prioritises social impact. Along with other angel investors including Oyo's Maninder Gulati, Cars24's Vikram Chopra, and Swiggy CEO Rohit Kapoor, Waveform VC and Bharat Founders also invested in the firm during this round.

Platform for selling building supplies for homes, Mistry.Store, secured $2 million in seed funding from Omidyar Network India, an investment company that prioritises social impact. Along with other angel investors including Oyo’s Maninder Gulati, Cars24’s Vikram Chopra, and Swiggy CEO Rohit Kapoor, Waveform VC and Bharat Founders also invested in the firm during this round.

The funding will be used by Mistry.Store, which is presently only focused on the Delhi-NCR region, to develop an end-to-end tech-enabled solution for home interior specialists and their homeowner clients, as per reported by The Economic Times.

Mistry.Store, founded in 2022 by Vaibhav Poddar and Bhanu Mahajan, serves as an online retailer for building supplies and home furnishings for homeowners, including wood, plumbing, and hardware.

Read also – [Funding alert] Digital Marketing Platform Intellemo Raises Over Rs 3 Cr in Funding

“While this market is highly organized in western countries, no significant player has emerged yet in the India market, owing to local market dynamics”, said Vaibhav Poddar.

The platform’s main goal is to make it easier for home interior specialists like architects, interior decorators, builders, etc. to buy building supplies on behalf of their clients.

Read also – Employability, Digital Education and Learning Gaps Among India’s Emerging Workforce

“India’s home building material market continues to be fraught with inefficiencies, inflated pricing and severe opacity for end consumers. By addressing these concerns and by empowering the small businesses and independent professionals, Mistry.store aims to organise this large fragmented market through technology,” said Abhirup Sarkar, Omidyar Network India.

About Mistry.Store

Mistry.Store is developing a cutting-edge platform to address these issues and ultimately enhance the quality of life for all home interior designers and homeowners who hire them.

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