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Gurgaon-based home decor and furniture e-commerce startup Nestroots has raised $100K in series seed round funding led by We Founder Circle (debt and equity round).
Speaking on the investment in Nestroots, Neeraj Tyagi, CEO & CO-Founder, We Founder Circle has said, ” 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 center of attraction much beyond just living. Today home is your extended office, entertainment zone, party place & much more. All these factors have together created a more favorable scenario for Home decor startups like Nestroots to thrive,” Tyagi added.
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.
Commenting on the funding, Ms. Chhavi Singh, Founder of Nestroots said, “Though being bootstrapped till now we have seen amazing results and received a great response from the consumers, 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.”
“Our product range has been widely accepted and liked by the customers in the segment. Now we are focused on increasing the customer base in India by providing aesthetically high, and durable products at affordable prices. Raising this round has also allowed us to have Hitesh Dhawan on board 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,” Chavi added.