Nestry Secures Rs 6 Crore In Pre-Series A Funding From Inflection Point Ventures
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The Nestery, an online retailer of maternity and children's supplies, announced on Thursday that a fundraising round headed by Inflection Point Ventures had brought in more than Rs 6 crore (IPV). The funds, according to Nestery, will be used to grow its staff, advance its technology, and produce unique content. The business, which assists parents in shopping for children's products, previously won a $100,000 Sequoia Spark Fellowship Grant.
The Nestery platform was founded in 2018 by Vaishnavi R, a former Senior Consultant at Deloitte Consulting and T S Viswanathan, a former Group Head at FP&A, he was responsible for driving the financial strategy for all businesses in the group - consumer, housing and corporate lending as well as investment management and wealth management.
Vaishnavi Rangarajan, founder and CEO of The Nestery, stated, Because parenthood is a new period of life with a high learning curve, new parents nowadays have an abundance of options but are unsure of which to choose. Therefore, they rely on lengthy research or advice from other parents over what to buy and when to get it. We want to use our contextual catalogue to assist parents to discover the right products at the right moment on their parenting journey.
The Nestery is a community-led e-commerce website that teaches parents what to buy when to buy it, and why. The products at Nestery are curated, secure, unique, and parent-approved makes easier for parents to find trustworthy maternity and children's products with significance.
A $50 million alternative investment fund (AIF) targeting Series A and B growth-stage start-ups, Physis Capital, was also introduced by IPV. The Nestery is concentrating on modern parents, a market worth $15 billion, while the whole revenue from the childcare business is anticipated to be over $40 billion.
