Gurgaon-based e-commerce construction platform Mistry.Store witnessed a revenue of Rs 3.6 crore in FY23 of which over Rs 3 crore came in from operations.
Founded in 2022 by Vaibhav V Poddar and Bhanu Mahajan, Mistry.Store sells building materials to home interior professionals. It connects home interior professionals to a wide range of building materials suppliers. Its target market is home interior professionals who are looking for a convenient and efficient way to purchase building materials.
The company’s expenses for the fiscal year ending March 2023 amounted to Rs 7.4 crore. While it spent over Rs 3 crore on material costs, over Rs 2 crore was spent on employee benefits and close to Rs 76 lakhs were spent on advertisement and promotional costs.
Mistry.Store saw losses of Rs 2.8 crore with the EBITDA margin standing at -104.18% and the ROCE stood at -29.06%.
It’s first and only fundraise was held on October 2022 and raised Rs 16.5 crore with Omidyar Network India as the lead investor. The round also saw participation from the likes of Maninder Gulati and Good Capital.
Post the infusion of funds, founders Vaibhav Vijay Poddar and Bhanu Mahajan holds over 40% and 20% of the company shares respectively while Omidyar Network holds close to 18%.
Mistry.Store competes against the likes of Ofbusiness, Infra.market, Brick&Bolt, and Venwiz.