Nestasia, an online home decor and lifestyle brand, which has raised $4 million in Series A funding, is looking to scale up its business and reach out to one million households in the next three years. The Kolkata-based company has touched close to 50,000 households with around 1,00,000 orders.
According to Aditi Murarka Agrawal, Co-founder, Nestasia, the work from home due to Covid-19 pandemic has made people focus more on home improvement and has led to a steady traction in demand for its products over the past two years.
“There has been a shift in the way people think about their homes. It’s a space where a lot of time has been spent working and entertaining lately. This has amped up the desire for upgrades in the home environment and the fact that consumers are willing to opt for unique, good quality products has expedited our growth by three-fold in the last one year,” Agrawal told BusinessLine.
The company, which is present across five to six categories, including kitchen and dining, decor, garden, bath and storage, is looking to launch more categories, including wooden furniture, bed linen and strengthen its ceramic cookware range. It is looking to invest on its platform, products, technology and infrastructure.
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The home and kitchen segment is estimated to be close to ₹1,00,000 crore market and is currently largely unorganised. However, it has been one of the fastest growing segments and has been witnessing a sea change with increased online penetration and premiumisation alongside changing consumer behaviour that has been further accelerated by the pandemic, Anurag Agrawal, Co-founder, Nestasia, said.
The company is looking to set up a factory for designing and manufacturing wood and cane-based furniture and plans to rope in around 50 artisans from West Bengal for the same.
Soon on e-commerce platforms
Nestasia products, which are currently available only on its own website, will be soon made available on e-commerce platforms including Amazon, Flipkart etc.
The company has been getting orders from a number of tier-2 and tier-3 cities as well as from northeast India, and expects the trend to be further consolidated moving 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, MamaEarth), Sahil Barua (CEO, Delhivery), Anuj Srivastava and Ramakant Sharma (Founders, Livspace) and Dilip Khandelwal (Global CIO, Deutsche India).