by Suman Gupta
- Nestroots secures fundraise, expanding its product catalogue to various categories such as Kids Furniture, Wall & Tabletop Decor and Furnishings, and further strengthening its existing categories.
- The brand’s ambitious five-year plan extends to global expansion into the US, Canada, and UAE market and establishing an offline presence.
India, 21st December 2023 – Nestroots, a prominent new age home decor and lifestyle brand, announces a fundraise of ₹3 crore, led by BeyondSeed Singapore, with investment expertly handled by Bestvantage Investments. This infusion of capital comes on the heels of Nestroots projecting an impressive year-on-year double digit growth, cementing its formidable standing in the burgeoning Indian home decor market.
Arjun Vaidya, Marquee D2C mentor & investor has participated in the round and also come on board as a mentor.
Nestroots, dedicated to excellence in design, quality, and accessibility, is set to leverage this funding to fortify Nestroots’ online dominance with diverse product ranges by introducing new categories like Kids’ Furniture and bigger Furniture alongside an expansive range of Decor. Additionally, with a keen eye on global markets, Nestroots’ ambitious global expansion plans over the next five years include venturing into strategic territories, including the US, Canada, and the UAE, marking a significant milestone in its international presence. Alongside the Brand aims to bolster its offline footprint through Shop – in – Shops (SIS) and Multi-Brand Outlets (MBOs). This growth aligns with the brand’s vision of becoming the ultimate ‘Home-Everything’ destination.
Nestroots plans to set itself apart in India’s 32 Billion USD thriving Home Decor industry, projected to reach USD 39.44 Bn by 2027 with a CAGR of 4.18%[1] by offering unique designs, superior quality, and budget-friendly pricing. The brand has fast become the top choice for consumers seeking affordable luxury in home decor, which the company labels as — ‘Luxury on a Budget’.
“Recognising the need for comprehensive home solutions, Nestroots aspires to be the ultimate ‘Home-Everything’ in India’s thriving home decor market. 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 favourable Brand amongst consumers across India. Looking forward, over the next five years, we plan to showcase the richness of Indian design with international aesthetics, offering premium designs at accessible prices”, said Chhavi Singh, Founder and CEO of Nestroots.
“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. Our goal extends beyond products; it’s about making Nestroots a symbol of trust and excellence amongst consumers, fulfilling our grand vision of becoming the market leader, not just in India but also in the global markets”, said Shekhar Godiyal, Co-Founder and COO of Nestroots.
“The landscape for India’s furniture and decor market has drastically evolved in the last decade. We are excited to back the team at Nestroots who are focused on capitalising on the fast-changing consumer trends and right use of technology to take their platform to scale”, said Kuldeep Mirani, Co-Founder & CEO, Beyond Seed Venture Solutions, a Singapore- based early-stage investor.
Nestroots earned national acclaim with a ₹50 Lakhs investment for 2% equity from Namita Thapar on Shark Tank India Season 2, propelling the brand to establish a solid online presence across significant e-commerce platforms like Amazon, Pepperfry, and Myntra, in addition to its official D2C website. With a revitalised vision and fresh funding, the brand is set to fortify its market standing and revolutionise the home decor industry. It remains steadfast in its commitment to crafting homes beautifully and offers consumers an unparalleled selection that harmoniously combines aesthetics, quality, and affordability.
