Contextual e-commerce platform The Nestery has raised over Rs six crore in a Pre-Series A led by Inflection Point Ventures (IPV). As per the platform, the funds raised will be utilised towards expanding the team, technology enhancement, and generating original content.
“A new parent today is spoilt for choice, but doesn’t know what to choose because parenting is a brand-new life stage with a steep learning curve. So, they rely on hours of research or consulting other parents about what to buy, and when to buy. We want to use our contextual catalog to help parents discover the right products at the right time on their parenting journey. We look forward to collaborating with IPV and scaling this business along with all stakeholders,” Vaishnavi Rangarajan, founder and CEO, The Nestery said.
The Nestery is a children’s and maternity marketplace that helps parents discover what to buy, when and why. The Nestery claims to have a community of more than 1,00,000 parents.
For Vinay Bansal, founder and CEO, Inflection Point Ventures, The Nestery is a holistic platform which handholds parents especially the first timers to purchase from a complete range of products which are child friendly and much needed for their development. “This guidance at the initial stage on what to purchase, when is the right time to introduce the child to a product and why one should be exposed to a particular product provides an edge to anxious parents who are entering uncharted territory. This can also help parents save a lot of money and reduce the clutter of buying more than required. IPV looks forward to helping the company scale its business,” he added further.
Every year, 25 million children are born in India, according to the most recent census, the company said. “In India, the overall revenue from the childcare market is projected to be about $40 billion. The expansion of the Indian preschool and childcare industry is primarily driven by factors such as increased parental awareness about early childhood education and care, as well as the country’s growing proportion of nuclear families and working mothers,” it added. The Nestery is focusing on modern parents which is a $15 billion market.