Home utility startup Bonita raises first round of funds
Home utility startup Bonita India has successfully closed its first round of funding from a group of individual investors to help the brand grow to the next level. This bootstrapped initiative has presence in over 25 countries with strong foothold in USA, UK, Germany, Italy, Spain, France, Czech Republic, Poland, Belgium, Netherlands Switzerland, Mexico, Australia, New Zealand & UAE with overseas warehouses in US, Europe, and UAE.
At home in India, it already has a strong distribution network and is available across 1000+ stores in 45+ cities of India through major retail chains like Shoppers Stop, Home Stop, Hypercity, Home Town, Lulu, etc. It is also available across major e-commerce platforms like Amazon, Snapdeal, Pepperfry, Indiatimes, among others.
“It gives us immense pleasure to announce that we have completed the first outside investment at Bonita. Our company now has several individual patrons. The money raised in this round will be spent on brand-building exercises including BTL & ATL activities, investment in new product development, launches, creating product awareness and drive consumption at a pan-India level and further growing the distribution network,” said Umang Srivastava, Joint Managing Director, Bonita.
Bonita is now aiming to establish its foothold in 50 countries, and earn over 50 patents over the next 3 years by introducing more innovative and space savvy home utility products.