D2C home decor and lifestyle brand Nestasia has raised $4 Mn in a Series A funding round led by Stellaris Venture Partners. Angel investors Varun Alagh (MamaEarth), Sahil Barua (Delhivery), Anuj Srivastava and Ramakant Sharma (Livspace) and Dilip Khandelwal (Deutsche India) also participated in the round.
Founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal, Nestasia sells a range of artisanal home decor and tableware products. It claims to have over 6000 products across different categories, including kitchen and dining, decor, garden, bath and storage.
According to the startup, it has completed over 100,000 orders and has a customer base of over 50,000 spread across seven countries. It will use the freshly-infused capital to increase its range of 10,000 products by mid-2022 while further expanding into categories including cookware and soft furnishings. It will also invest in its platform, technology and infrastructure.
“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 year,” said Aditi Murarka Agrawal, cofounder of Nestasia.
According to Inc42 Plus Analysis, the online home decor market in the country is estimated to grow from $2.1 Bn in 2020 to reach $5.4 Bn by 2025, at a CAGR of 20.4%. The total addressable market for D2C brands is expected to reach $100 Bn in 2025.
“The home & kitchen segment is an INR 100k Cr+ market that is largely unrecognised. We believe that Nestasia, with its unique and broad range of stylish offerings, competitive pricing, and backed by 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,” said Rahul Chowdhri, partner at Stellaris Venture Partners.
Earlier this year, D2C home decor startup KraftInn had raised a seed fund from NEDFi Venture Capital Ltd (NVCL), through its North East Venture Fund. It planned to utilise the funds to expand its inventory and designs.