Nestroots, a home decor startup has received $100K (debt and equity combined) worth seed funding round from We Founder Circle (WFC) – a startup investment platform.
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.
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.
“Raising this round will help us accelerate our growth plans, explore newer avenues and take bigger leaps in lesser time. We have been a profitable business since inception. Raising this round has also given us 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 – Founder, Nestroots, a home decor startup.
Neeraj Tyagi- CEO & CO-Founder, We Founder Circle 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 decor has been the fastest growing category online, as homes have become the centre of attraction much beyond just living. Today, the home is your extended office, entertainment zone, party place and much more. All these factors have together created a more favourable scenario for home decor startups like Nestroots to thrive.”
Nestroots aims at increasing the number of product parent categories from the current 7 to 12 by end of fiscal 2021-22.