Funding Alert
- ByStartupStory | December 21, 2023
Nestroots, a leading home decor and lifestyle brand in the burgeoning Indian market, has successfully raised ₹3 crore in a Pre-Seed funding round led by Beyond Seed Singapore, with investment expertise facilitated by Bestvantage Investments. This funding injection comes as Nestroots reports impressive year-on-year double-digit growth, reinforcing its significant presence in the dynamic Indian home decor sector.
Arjun Vaidya, a distinguished D2C mentor and investor, has actively participated in the funding round and assumed the role of a mentor within the company.
Dedicated to excellence in design, quality, and accessibility, Nestroots plans to utilize the newly acquired capital to strengthen its online dominance by expanding its product offerings. The brand aims to introduce new categories such as Kids’ Furniture and larger Furniture, alongside an extensive range of Decor. Nestroots is also eyeing global markets, with ambitious plans to expand into strategic territories, including the US, Canada, and the UAE, marking a pivotal milestone in its international footprint. Simultaneously, the brand intends to enhance its offline presence through Shop-in-Shops (SIS) and Multi-Brand Outlets (MBOs), aligning with its vision of becoming the ultimate ‘Home-Everything’ destination.
In India’s thriving Home Decor industry, projected to reach USD 39.44 billion by 2027, Nestroots aims to stand out by offering unique designs, superior quality, and budget-friendly pricing. Positioned as ‘Luxury on a Budget,’ the brand has rapidly become the preferred choice for consumers seeking affordable luxury in home decor.
Chhavi Singh, Founder and CEO of Nestroots, expressed the brand’s commitment to providing comprehensive home solutions. “We are committed to becoming the go-to destination for all home essentials, and the recent fundraise strategically places us to diversify our product categories and become a favorable brand amongst consumers across India.”
Shekhar Godiyal, Co-Founder, and COO of Nestroots emphasized the significance of the investment, stating, “This significant investment propels Nestroots towards new heights. It strengthens our financial foundation and fuels our ambition to be the foremost destination for home decor.”
Kuldeep Mirani, Co-Founder & CEO of Beyond Seed Venture Solutions, a Singapore-based early-stage investor, highlighted the evolving landscape of India’s furniture and decor market, expressing excitement about supporting Nestroots in capitalizing on changing consumer trends.
Nestroots gained national recognition with a ₹50 lakhs investment for 2% equity from Namita Thapar on Shark Tank India Season 2. The brand has established a robust online presence across major e-commerce platforms like Amazon, Pepperfry, and Myntra, in addition to its official D2C website. With a renewed vision and fresh funding, Nestroots is poised to strengthen its market position and revolutionize the home decor industry, remaining steadfast in its commitment to crafting beautifully designed and affordable homes.