Nona Lifestyle eyes Rs 1,000 crore in revenue
Nona Lifestyle aims to reach a running revenue total of Rs 1,000 crore as it experiences sixfold growth. The business-to-business textiles, corporate merchandise, and soft furnishings business also aims to expand its export operations.
“We are delighted to share that, with the support of our investors and hard working team, we have been able to generate a revenue of Rs 508 million till date,” said Nona Lifestyle’s co-founder Hari Mishra, the Times of India reported. “For the current fiscal year, we are projecting growth at six times pace with a target revenue of Rs 150 crore. When it comes to our white labelling business, our plan is to create a structured market around the globe and be able to export to 35 to 40 countries in the near future.”
The business raised Rs 3.5 crore in seed funding from LC Nueva in 2020 and put the funds towards developing its technology to provide accurate data and automate its supply chain, ET Bureau reported. The business went on to raise a further Rs 11 crore in a Pre Series A funding round led by LC Nueva among others.
“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.”
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