New Delhi-based Indian brand Nestasia bagged $8.35 million in a new funding round. This round of funding spearheaded by Susquehanna Asia VC and co-invested by Stellaris Venture Partners and notable angels is expected to take Nestasia to the next level. The funds will be used for building up the company’s offline presence, entering new sales categories, and integrating more systematic branding strategies.
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Mission of Nestasia
Nestasia was launched in 2019 by Aditi Murarka Agrawal and Anurag Agrawal. Nestasia has boosted a strong and fast-growing position in the home décor and lifestyle empire. The brand features exclusive collections of products in six distinct categories which are kitchen and dining, drink and beverage, cook and bake, and home appliances. The mission statement of Nestasia is to “Make Home Special”, to offer fashionable, practical, and reasonably priced home accessories that meet modern-day consumer requirements.
Funding Details
The current funding was raised after the company raised $4 million in Series A funding by Stellaris in 2021. The $8.35 million was raised to play a crucial role in scaling and
expanding the company’s operations. Nestasia believes in increasing coverage of existing markets and entering new cities. The company also has a target of opening 30 stores by December 2025. This is seen as a way of expanding its outlets to markets where customers can easily access them.
The brand plan’s idea is to expand into new horizontal categories like Nest Baby & Kids with home products for children. The funds will also be utilized 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, while acquiring new talent for the company to enhance creativity and productivity.
Market Impact with Rapid Growth
Home décor and lifestyle market in India is expanding at a fast pace because of the rise in urbanization, people’s improved disposal incomes, and the need for better and well-designed home items. This is a good opportunity for Nestasia since it offers many products and has a significant share of sales in online stores. The approach focusing on the qualities of the products, attractive prices, and environmental friendliness in line with new consumer trends as well as the shift towards the premium segment enables taking a leading market position in this segment.
Future Prospects
The provision of the new funding means that Nestasia has the possibility of experiencing rapid growth. The brand needs to increase coverage by opening more physical stores, extending its product portfolio, and improving brand affinity with consumers, which are expected to have impacts on sales and customer loyalty. To increase its sales during the forthcoming festive season, Nestasia claims it will roll out new brand strategies, and products every week and focus on its online platforms, e-marketplaces, quick commerce, and offline outlets.
Conclusion
The $8.35 million Series B is considered a significant turning point in Nestasia’s development as it allowed the brand to expand and seize the opportunity to become a dominant 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.
