What is DEPO24?
DEPO24 is creating a B2B marketplace connecting manufacturers directly with the end consumers and become a one-stop shop for all product categories including pipe and fittings, tiles, marbles, paints, and plywood and laminates, bathroom fixtures, wires, lighting etc. Due to the consolidation of intermediaries, it is able to provide material at a lower cost than the market.
Arpit Saraf (CEO) has 10+ yr experience at Bain and come with deep work experience in Industrial Goods, Private Equity & TMT practice and has a family background in furniture fitting space (B2B). Anil Patwari (COO) has 15+ years of experience in wholesale of Furniture fittings & Bathroom fittings; family background in plywood category. Kushal Agarwal (CPO) was ex-Operations Manager, P&G and co-founded Kwikpic (AI-based photo sharing platform); family Background in PVC Pipes and Bathroom fittings.
Thus the team has deep roots in the market they are solving for
Market
The company is operating in a market with a TAM of $ 45 bn+ which is projected to grow at 10% annually over the next 5 years. Increasing disposable and access to home loans is driving growth in the segment. Shortening replacement cycles: increasing shift of consumers towards new and innovative products. The industry is largely fragmented - limited brand play in most categories and limited number of pan India brands. The market is unorganised - dominated by mom & pop stores with limited a number of retail/wholesale chains
Why We Invested?
The Fittings and Hardware, although growing at a lightning speed amid rising disposable incomes and affordable home loans, is largely unorganised and fragmented. Depo24 provides a one-stop platform for all the building & construction needs of customers, provides hassle-free & superior customer experience at fair prices, and organises the unorganised market.
The founding team of Arpit, Anil, and Kushal come with a deep understanding of customer behaviour, on-ground expertise in operations management, and strategic expertise in scaling the business. While Arpit has worked closely in this category at Bain, Anil has been a trader and manufacturer in the space.
Company was very recently launched and has recently started piloting in Kolkata . We believe that fragmentation in this segment will enable the marketplace to achieve traction and market share. As more and more suppliers add to the platform the network effects will start kicking in,in this largely unorganised industry.
