Gurugram based startup Smytten raises $6 Million in Series A funding
Smytten, an online platform for consumer product discovery and trials, has raised $6 million in Series A funding led by Fireside Ventures. The round was held on Tuesday and saw participation from Waao Partners (Pratul Shroff family office), Survam Partners (Suman Kant Munjal family office), and Sharp Ventures (Mariwala family office). Among existing investors Roots Ventures also participated.
A major portion of the funding will be used for technology development, which will help D2C brands with good consumer data for new product development, consumer marketing, acquiring customers, and achieving scale.
“We believe this sampling-led tried-and-tested method of customer engagement will change the way D2C brands and consumers interact, making it more immersive and experience-based. We are deploying this funding to build future capabilities for the D2C ecosystem,” said SwagatSarangi, Founder, Smytten.
He further said that the pre-purchase buying experience will fuel the Indian D2C market, which is estimated to touch $100 billion in the next 4-5 years.
The startupSmytten was founded by ex-GooglerSwagatSarangi and ex-Unilever executive, SiddhartaNangia in 2015. This Grurugram based startup provides a luxury product sampling service. The broken chain for the luxury brands in India has forced the company to focus on direct to customers as well as premium brand sampling. This includes fragrances, beauty, makeup, male grooming, baby and mother care, food and beverages, and health and wellness.
“Smytten has worked out to be one of the most efficient, targeted and data-driven sampling platforms for us as we aggressively scale our business. Our sampling ROI has been great on Smytten and it has helped us drive trials amongst a lot of first-time users for mamaearth very efficiently,” said Varun Alagh, Co-founder, MamaEarth.
In 2019, Smytten raised an investment of $1.5 million in its pre-series A from the Roots Ventures that participated in the current funding round.
“Smytten’s revenue has grown eight times since the time we invested. We strongly believe that the integrated approach taken by Smytten to solve the pre-purchase conundrum for consumers in the D2C space will see them lead a potentially $10 billion sampling and advertising market in the projected $100 billion D2C brand market by 2025,” said Japan Vyas, managing partner of roots Ventures.
Smytten also has investors like Rajan Anandan, ex-MD of Google India and South East Asia.
A major portion of the funding will be used for technology development, which will help D2C brands with good consumer data for new product development, consumer marketing, acquiring customers, and achieving scale.
“We believe this sampling-led tried-and-tested method of customer engagement will change the way D2C brands and consumers interact, making it more immersive and experience-based. We are deploying this funding to build future capabilities for the D2C ecosystem,” said SwagatSarangi, Founder, Smytten.
He further said that the pre-purchase buying experience will fuel the Indian D2C market, which is estimated to touch $100 billion in the next 4-5 years.
The startupSmytten was founded by ex-GooglerSwagatSarangi and ex-Unilever executive, SiddhartaNangia in 2015. This Grurugram based startup provides a luxury product sampling service. The broken chain for the luxury brands in India has forced the company to focus on direct to customers as well as premium brand sampling. This includes fragrances, beauty, makeup, male grooming, baby and mother care, food and beverages, and health and wellness.
“Smytten has worked out to be one of the most efficient, targeted and data-driven sampling platforms for us as we aggressively scale our business. Our sampling ROI has been great on Smytten and it has helped us drive trials amongst a lot of first-time users for mamaearth very efficiently,” said Varun Alagh, Co-founder, MamaEarth.
In 2019, Smytten raised an investment of $1.5 million in its pre-series A from the Roots Ventures that participated in the current funding round.
“Smytten’s revenue has grown eight times since the time we invested. We strongly believe that the integrated approach taken by Smytten to solve the pre-purchase conundrum for consumers in the D2C space will see them lead a potentially $10 billion sampling and advertising market in the projected $100 billion D2C brand market by 2025,” said Japan Vyas, managing partner of roots Ventures.
Smytten also has investors like Rajan Anandan, ex-MD of Google India and South East Asia.
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