Smytten brings INR 100cr up in Pre-Series B. The round saw investments from Sharrp Ventures, Waao Partners, Survam Partners, Marico, and others.
Smytten has raised more than $20 million in institutional subsidizing until this point in time.
This financing has multiplied the valuation of the organization. The new investments will mainly be utilized for building numerous industry-first tech and information structures.
The Smytten Story
Smytten is India’s largest D2C premium discovery and trial platform. It provides a hassle-free online shopping experience.
Siddhartha Nangia and Swagata Sarangi ( both were ISB alumni ) launched Smytten in November 2015.
The business model revolves around collaborating with premium and prodigality brands to give them a designated testing procedure in India.
With 900+ brand accessories on its foundation across several categories, it covers fragrances, male grooming, health & wellness, beauty & makeup, food & beverages, baby & mother care, and offers products.
For increasing client obtaining, item advancement, and channel extension it offers its image accomplices, a set-up of administrations, information, and experiences.
One of the founders believes that – Lifestyle products in India have grown 30-35% in the past couple of years. Around 20-25 million people are targeted by most premium brands. The brand is keeping eye on the upper part of the funnel taking care of awareness, consideration, and purpose.
Promise To A Powerful Future
With the help of Artificial Intelligence (AI) and Machine learning (ML), the funds will help in giving shape to several units of the organization
This will improve the promoting channel for D2C brands.
“We are looking at a significant growth and push this year. The funding we have raised will be used for five different growth aspects of the business. One is the significant growth of technology and infrastructure. Currently, B2B brands in the D2C segment have seen significant growth, and we want to continue onboarding one to our partners every day.” ~ Siddhartha Nangia, Co-founder of Smytten.
Additionally, to widen the product trial touch points and strengthen the online service delivery the stage intends to invest heavily to make a top tier adjusting foundation the nation over.
“Currently, we are present in 12 categories and are looking at adding five more categories, and category experts. We also are looking at significant brand building, and we expect every Indian to know about Smytten,” added Siddhartha.
This signifies clearly that the company is additionally hoping to hire.
“The startup contributes in giving the right information to the brand and also helps them in their growth from a sales perspective on our website as well as on other platforms,” ~ Swagat Sarangi, Co-Founder at Smytten.
The organization has faith in the improvement of an empowering environment for the buyer brand upset that is getting down to business in India.
They come up with an integrated approach to the consumer funnel and technological innovations to solve the key challenges faced by many D2C brands.
They claim to bring 10-15 products on daily basis for their consumers to try and it is enabling the up and coming age of D2C and worldwide brands.
So from creating the best services across the country to widening the trail of its products and enhancing its infrastructure Smytten has its own way to take it ahead.
As Smytten they believe in the spirit of Trying Something New.
