Nestroots, the home decor and lifestyle brand, announced on Tuesday that it has raised INR 3 crore in a pre-seed funding round, as revealed in a press release.
Beyond Seed Singapore spearheaded the funding, with Bestvantage Investments skillfully managing the investment, and the involvement of Arjun Vaidya, a prominent D2C investor at Marquee.
According to the announcement, the funding will be allocated to bolster the brand’s online visibility and facilitate its expansion into the global markets of the US, Canada, and UAE over the next five years.
“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 Nestroots.
Additionally, the brand seeks to increase its physical presence through shop-in-shop (SIS) and multi-brand outlets (MBO).
“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,” said Shekhar Godiyal, co-founder and COO, Nestroots.
Founded in 2016, Nestroots is a domestically originated home decor brand that can be found on various e-commerce platforms such as Amazon, Pepperfry, and Myntra. With the objective of distinguishing itself in India’s expanding $32 million home decor industry, the brand anticipates the market to reach $39.44 billion by 2027, demonstrating a compound annual growth rate (CAGR) of 4.18 percent.
