Image Credits: Shark Tank India
Last updated on 14 January 2023. Find out everything about Nestroots furniture pitch on Shark Tank India, its founder, and the latest updates about the company!
NestRoots on Shark Tank India
Founded in 2016, Nestroots is an online eCommerce store to get all your home furniture at a great price.
Here are the key details about the pitch of Nestroots on Shark Tank India:
| Business Name | NestRoots |
| Founder | Chhavi Singh |
| Episode no. | Season 02 Episode 9 |
| Ask | ₹50 Lakhs for 1% Equity |
| Accepted Offer | ₹50 Lakhs for 2% Equity |
| Sharks | Namita Thapar |
| Current Status | In-business |
NestRoots is a modern home furnishing and manufacturing brand. They offer ottoman furniture, kitchen dining, cutlery, side tables, tabletop, glasses, and decorative furniture.
You can check their products on their website, Amazon, Flipkart, Myntra, or Pepperfry. Here is one of their beautiful ottoman stools set with a foam cushion on Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3XsbqxC
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The ask was for ₹50 Lakhs for a 1% stake. The money will be used to make it the ultimate Indian home decor name and enter global markets. The USP is that they have high-quality items at affordable ranges in the country.
Here is a short clip of the pitch:
Every shark liked the products but Aman & Vineeta were surprised that still not well-known online after being in the business for more than 6 years.
The FY 2022 sales were 14 crores with about 70% net margin. Half of these sales are from furniture only. This good profit data really impressed some sharks, because other sellers in the space are not so profitable side.
One more amazing point is that the inventory is well-managed in such a high-SKU arena. Namita was the first to give an offer and every shark advised to take it. Vineet was out because she has already invested in a similar business.
In the end, shark Namita Thapar closed the deal with Nestroots for ₹50 lakhs in exchange for 2% equity.
About the Founder
Chhavi Singh is the founder of NestRoots. The company is headquartered in Gurgaon, Haryana.
Chhavi did her post-graduation from Symbiosis in Retails Operations business. She has also a degree in retail and merchandise management. Then, she has 10 years of experience in the same domain. So, her background is perfect for such a startup.
Also, her last startup was Sacred Salts, an Ayurvedic skincare brand, but it looks like is not active since 2021. Her family members are also in some business, so it runs in the genes!
They have also gotten investment from We Found Circle in 2021 of about $100K to expand the marketing spend.
After Shark Tank Updates
After the episode was aired, Nestroots hosted a big sale on their sale with heavy discounts. You can also get 10% off using coupon ‘SHARKINNEST’. Chhavi also verified that the deal is done.
By the way, other businesses featured on this episode were Paradyes and Coezy Sleep.
Before saying bye, let’s take a final look at the official company pitch: “Nestroots is a dream house of design, aesthetics, and elegance. Our goal is to create work that is honest and solutions that are captivating and fulfilling. We work with the belief that the journey should be just as exciting as the end result.”
Takeaways
So now you know about the full pitch and deal of nestroots on Shark Tank and all latest updates. She is definitely an inspiration for many women!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.