Nestasia, an online home decor and lifestyle brand that delivers a unique home experience with its specially designed & curated line of artisanal home decor and tableware products, announced that it has raised US$ 4 mn in Series A. This funding round was led by Stellaris Venture Partners. Several angel investors who are part of the Stellaris Founder Network, an exclusive group of more than sixty high-quality entrepreneurs and industry professionals also participated in the round. These include Varun Alagh (CEO, MamaEarth), Sahil Barua (CEO, Delhivery), Anuj Srivastava & Ramakant Sharma (Founders, Livspace) and Dilip Khandelwal (Global CIO, Deutsche India).
Nestasia was founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal with the aim to provide a unique range of products that touch each part of a home attune to the tastes of both, modern and traditional homes. The company manufactures and brings products from across India and South-east Asia to offer a fine mix of products that blend modern design, traditional techniques and a wide range of materials like clay, metal, wood, marble and so on. Nestasia has over 6000 products across categories on its website–including kitchen & dining, decor, garden, bath & storage to name a few. In just a little over two years, the company has completed 100,000 orders and has a customer base of over 50,000 spread across 7 countries.
Nestasia is looking to reach over 10 million households in India by 2025. With new launches every week, the brand is also looking to increase its range to 10,000 products by June 2022, further expanding into other categories including cookware & soft furnishings. With this round, Nestasia is looking to invest on its platform, products, technology and infrastructure.
Aditi Murarka Agrawal, Co-founder, Nestasia, said, “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 have expedited our growth by three-fold in the last year.
We are excited to have Rahul Chowdhri from Stellaris Venture Partners on our board, who brings with him a wealth of experience and understanding of the D2C space and the nuances of achieving scale.”
Commenting on the investment, Rahul Chowdhri, Partner, Stellaris Venture Partners said, “The home & kitchen segment is an INR 100k+ crore market that is largely unrecognised. However, it has been one of the fastest-growing segments and is witnessing a sea change with increased online penetration and premiumization alongside changing consumer behaviour that has been further accelerated by the pandemic.
We believe that Nestasia, with its unique and broad range of stylish offerings, priced competitively, and backed with a strong and agile founding team in Aditi and Anurag with a growth mindset and a deep consumer understanding, is well on its way to becoming one of India’s leading brands in this segment. The company’s exceptional growth in the past year, strong customer love and retention despite no brand spend, instils a great deal of confidence in us as investors.”
This will be the first investment in the home decor and lifestyle segment by Stellaris Venture Partners. Apart from the capital investment and access to angel investors from the Stellaris Founder Network, the fund’s involvement in Nestasia will be multidimensional. This includes helping them with various E-commerce partners in their network, hiring for key positions through internal support teams, and providing counsel on strategic initiatives and team building, geared towards faster growth.