Nestasia, an online home décor and lifestyle brand that has raised $4 million in Series A funding, is looking to expand its business and reach one million households in the next three years. The Kolkata-based company has touched nearly 50,000 homes with nearly 1,00,000 orders.
According to Aditi Murarka Agrawal, Co-Founder, Nestasia, working from home due to the Covid-19 pandemic has made people focus more on home improvement and has led to a steady pull in demand for its products over the past two years.
“There has been a shift in the way people think about their homes. It is a space where a lot of time has been spent working and entertaining lately. This has led to an increased desire for upgrades in the home environment and the fact that consumers want to choose unique and high quality products, has resulted in To accelerate our growth threefold in the past year.”
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The company, which sits in five to six categories including kitchen, dining, decor, garden, bathroom and storage, is looking to launch more categories, including wood furniture and bed linens, and boost its ceramic cookware range. It is looking to invest in its platform, products, technologies and infrastructure.
The Home & Kitchen segment is estimated to be close to the Rs 1,00,000 crore market and is currently largely unregulated. However, it has been one of the fastest growing sectors and has seen a major change with increasing internet penetration and premium along with changing consumer behavior accelerated by the pandemic, said Anurag Agrawal, co-founder of Nestasia.
The company is looking to set up a factory to design and manufacture wooden and cane furniture and is planning to rope around 50 craftsmen from West Bengal for the same purpose.
Coming soon to e-commerce platforms
Nestasia products, currently only available on their own website, will soon be available on e-commerce platforms including Amazon, Flipkart, etc.
The company has been receiving orders from a number of Tier 2 and Tier 3 cities as well as from North East India, and expects the trend to be further consolidated going forward.
The funding round was led by Stellaris Venture Partners and several angel investors, who are part of the Stellaris Founder Network, an exclusive group of more than 60 high-quality entrepreneurs and industry professionals. These include Varun Alagh (CEO, Mama Earth), Sahil Barua (CEO of Delhivery), Anuj Srivastava and Ramakant Sharma (founders of Livspace) and Dilip Kandelwal (Chief of Global Information, Deutsche India).