We Founder Circle (WFC) – a startup investment platform – participated in the $100K (debt and equity combined) Seed funding round in Nestroots, a home décor startup, as part of its mission to fund early-stage startups.
Nestroots, a Gurgaon-based startup, currently sells from multiple platforms, including its own website and other well-known marketplaces that cater to the Furniture, Dining, and Tableware categories. This is the startup's first round of funding.
Neeraj Tyagi- CEO & CO-Founder, We Founder Circle commented, “Consumer behaviour 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 centre 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 favourable scenario for Home decor startups like Nestroots to thrive.”
The startup intends to invest all of its funds in digital marketing, creating a better UI UX for its customers, facilitating vendor collaboration, and expanding product categories.
“Though being bootstrapped till now we have seen amazing results and received a great response from the consumers, raising this round will really 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 focussed on increasing the customer base in India by providing aesthetically high, and durable products at affordable prices. Raising this round has also given us the opportunity 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,” said Chhavi Singh – Founder, Nestroots, a home décor startup.
Nestroots has reached 55,000 customers since its inception. The brand intends to increase the number of product parent categories from 7 to 12 by the end of fiscal 2021-22.
