Nestroots is a home and lifestyle brand that features in Shark Tank. This brand has been able to secure around Rs. 3 crore in a pre-seed funding round. This was led by Beyond Seed Singapore and managed by Bestvantage Investments.
The brand is famous for its latest designs and quality. It has plans to use the investment to improve its overall online presence while working on expanding into international markets like the US, Canada, and UAE in the coming five years.
The main focus is on market expansion and working on product diversification.
Nestroots was started by Chhavi Singh along with Shekhar Godiyal. The startup is planning to diversify its range of products by introducing categories such as furniture and large furniture, along with existing décor offerings.
Along with this, the startup is focusing on widening its offline presence via shop-in-shops as well as multi-brand outlets. This strategy is known to be part of its vision and to be the top home-everything destination. It is planning to cater to the ongoing demand in India, which has a $32 billion home décor market and is expected to reach around $39.44 billion by 2027.
Planning to showcase Indian designs along with international aesthetics
According to the founder and CEO of Nestroots, ‘Understanding the need for better home solutions, Nestroots is dedicated to being home-everything in the thriving home décor market of India. We are committed to being a go-to destination when it comes to home essentials and strategically plan everything while focusing on diversifying our product categories and becoming the most popular brand among Indian consumers.’
She even added that they are working to showcase Indian designs along with international aesthetics. This combination will offer premium design at convenient prices.
Arjun Vaidya is a direct-to-consumer mentor as well as an investor. He is going to be part of the funding round and is going to play the role of a mentor.
The funding raised by Nestroots in Shark Tank India
Before all of this, this startup appeared on the show Shark Tank India Season 2. During that season, they were able to raise around Rs. 50 lakhs in investment for around 2% equity. This was from Emcure Pharma’s Namita Thapar.
Nestroots is a Gurugram-based startup. It is known to have a robust e-commerce presence on various platforms, such as Amazon, Myntra, along with Pepperfry.
With more than 55, 000 users since the beginning, it is aiming to revolutionize the entire home décor industry. It focuses on transforming homes by incorporating quality, affordability, along aesthetics into everything.
2 thoughts on “Nestroots, a brand featured in Shark Tank, raised Rs. 3 crores in a pre-seed round”