Home décor & furniture eCommerce startup Seed round is raised through Angel Investors through We Founder Circle- startup investment platform
New Delhi, NFAPost: We Founder Circle (WFC), a startup investment platform, led the $100K (debt and equity combined) worth seed funding round in Nestroots, a home décor startup.
Gurgaon-based startup Nestroots currently sells from multiple platforms including its own website, and other renowned marketplaces catering to Furniture, Dining and Tableware categories. This is the first round raised by the startup.
We Founder Circle CEO & CO-Founder Neeraj Tyagi commented consumer behavior in India has been gradually shifting towards urban lifestyle.
“This continuous shift has been driving the home decor market steadily. Also, globally during the current pandemic Home Décor has been the fastest-growing category online, as homes have become the centre of attraction much beyond just living. Today home is your extended office, entertainment zone, party place & much more,” said Neeraj Tyagi.
Neeraj Tyagi said all these factors have together created a more favourable scenario for Home decor startups like Nestroots to thrive.
The startup plans to exhaust funds in digital marketing, building a better UI UX for its customers, facilitating association with vendors, and building more product categories.
Nestroots Founder Chhavi Singh said though being bootstrapped till now the company has seen amazing results and received a great response from the consumers, raising this round will really help us accelerate growth plans, explore newer avenues and take bigger leaps in lesser time.
“We have been a profitable business since inception. Our product range has been widely accepted and liked by the customers in the segment. Now we are focussed on increasing the customer base in India by providing aesthetically high, and durable products at affordable prices. Raising this round has also given us the opportunity to have Hitesh Dhawan onboard as a Digital marketing mentor for Nestroots, who has also participated in this round. Hence, this round is not just restricted to financial support but also enables strategic and advisory support for us,” said Chhavi Singh.
Nestroots has been able to reach 55,000 customers since its inception. The brand aims at increasing the number of product parent categories from the current 7 to 12 by end of fiscal 2021-22.
Established in 2020 in Mumbai, We Founder Circle is a global community of successful founders & strategic angels that have come together to push the startup industry and steer it towards aggressive growth. It invests USD 50K- USD 150 K amount in early-stage startups that are fueled with ambition, sustainability, and strategic approach. WFC provides seed funding, business development, and global networking opportunities to startups as it believes early-stage startups need a lot beyond just financial support to become scalable and stable.
Established in 2016, Nestroots is a home décor startup based out of Delhi NCR. The startup provides products across 7 different parent categories including Furniture, Kitchen, Dining, Tableware & Serve-ware, Barware, Cutlery & Decor etc. Since its inception, the brand has served over 55,000 customers across more than 35 cities in India.