Nona Lifestyle, a B2B-managed marketplace for soft furnishings and custom corporate merchandise, aims to reach Rs 1,000 crore in revenue.
According to Hari Mishra, co-founder of Nona Lifestyle, the company initially focused on developing its domestic business. “Within two years of launch, we have expanded operations to Ahmedabad, Ludhiana, and Siliguri to meet demand across India and added well-known brands such as Zomato, Oyo Rooms, Delhivery, and Treebo Hotels in our portfolio,” said Mishra. “Eventually, in 2019, we expanded our presence in the UAE and registered a mainland company in Dubai with the name KYBR Textile Trading LLC,” he said.
The company recognized the importance of technology in 2020 since it would automate the supply chain, offer reliable data, and benefit its customers and suppliers. To achieve this goal, the company developed tech architecture with seed funding of Rs 3.5 crore from LC Nueva.
The textile market is highly fragmented, so multiple modules must be created to give consumers real-time data and automate the supply from the backend. The company claimed that it raised Rs 11 crore in Pre Series A with LC Nueva and other HNIs while considering these goals.
“We are delighted to share that with the support of our investors and our hard working team, we have been able to generate a revenue of Rs 508 million till date,” said Mishra. “For the current fiscal year, we are projecting growth at 6x pace with a target revenue of Rs 150 crore,” said Mishra. “When it comes to our white labeling business, our plan is to create a structured market around the globe and be able to export to 35-40 countries in the near future.”