Smytten doubles its valuation after raising Rs 100 Cr
By MYBRANDBOOK
D2C sampling platform Smytten has raised Rs 100 Cr in a pre-Series B funding round led by Fireside Ventures and Roots Ventures, along with participation from Sharrp Ventures, Waao Partners, Survam Partners, and Sattva Group Family Office.
Smytten will use the fresh capital for brand building, hiring engineering talent, building technology infrastructure and expanding teams across various verticals. Smytten offers its partner D2C brands a range of services, including data and insights on product development and channel expansion. “
Smytten offers products under 12 categories, including skincare, bath and body care, food and beverages, makeup, fragrances, health and wellness, stationery and pet food. Consumers can buy sample products from its app-based platform at a marginal cost and make better buying decisions.
Talking about future plans, Co-Founder Swagat Sarangi said, “There is a huge scope to further deep down in the current categories that we have. Besides, we want to invest in the audio and home automation segments. 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.”
Smytten claims to host over 900 brands on its platform across lifestyle categories. Mamaearth, Plum, mCaffeine, WOW Skin, Maybelline, Man Matters, Bodywise, and The Man Company are among some of the D2C brands present on its platform.
Smytten claims to have 10 million consumers, of which 70% are females and 30% are males. The startup claims to have a monthly recurring revenue (MRR) of INR 150 Cr, and is aiming for INR 500 Cr in MRR by the end of the year.
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