New Delhi-based Indian brand Nestasia has raised $8.35 million in a new funding round. Led by Susquehanna Asia VC and co-invested by Stellaris Venture Partners and notable angels, this round of funding is expected to take Nestasia to the next level. The funds will be used to expand the company's offline presence, enter new sales categories, and integrate more systematic branding strategies.
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Mission of Nestasia
Nestasia was launched in 2019 by Aditi Murarka Agarwal and Anurag Agarwal. Nestasia has fostered a strong and rapidly growing position in the home décor and lifestyle empire. The brand has exclusive collections of products across six distinct categories which are kitchen and dining, drinks and beverages, cooking and baking, and home appliances. Nestasia's mission statement is to “make homes special” by offering fashionable, practical and reasonably priced home accessories that meet modern-day consumer requirements.
Financing Details
The current funding was raised by the company after Stellaris raised $4 million in Series A funding in 2021. $8.35 million was raised to play a key role in scaling and
Expanding the company's operations. Nestasia believes in increasing the coverage of existing markets and entering new cities. The company also aims to open 30 stores by December 2025. This is seen as a way to expand its outlets to markets where customers can easily reach.
The idea behind the brand plan is to expand into new horizontal categories such as Nest Baby and Kids along with household products for kids. The funds will also be used for Nestasia's branding strategy to connect with customers through consistent marketing efforts and new products every week. To facilitate this growth, Nestasia aims to hire more personnel, as well as acquire new talent to increase creativity and productivity for the company.
Impact on the market with rapid growth
The home decor and lifestyle market in India is growing rapidly due to the rise in urbanization, better disposal income of people and the need for better and well-designed home furnishings. This is a good opportunity for Nestasia as it offers a wide range of products and has a significant share of sales in online stores. The approach focused on quality of products, attractive prices and environmental friendliness in line with new consumer trends as well as the shift towards the premium segment enables it to take a leading market position in this segment.
future prospects
The provision of new financing means that Nestasia has the potential to experience rapid growth. The brand needs to increase coverage by opening more physical stores, expanding its product portfolio and improving brand affinity with consumers, which is expected to have an impact on sales and customer loyalty. To increase its sales during the upcoming festive season, Nestasia claims that it will introduce new brand strategies and products every week and focus on its online platform, e-marketplace, quick commerce and offline outlets.
conclusion
The $8.35 million Series B is considered a turning point in Nestasia's growth as it allowed the brand to capitalise on the opportunity and expand to become a major player in the home décor and lifestyle category in India. Nestasia's investment in offline channels has the potential to grow its brand and launch new product categories, allowing Nestasia to fulfill its mission of making homes special.
