Smytten Raises Rs 100 Cr In Pre-Series B Funding
Smytten, a tech-enabled product discovery and trial platform, has raised Rs 100 crore in Pre-Series B funding led by Fireside Ventures and Roots Ventures. Sharrp Ventures, Waao Partners, Survam Partners, and Sattva Group Family Office also participated in the funding round.
As per the startup, the raised funds will be used to hire engineering talent and enhance its tech infrastructure with the help of AI & ML (Artificial Intelligence and Machine Learning) for brand building and customer acquisition.
Smytten | Product Discovery And Trial Platform
Founded by Swagat Sarangi and Siddhartha Nangia in 2015, Smytten is a product discovery and trial platform where users can get free trials and curated shopping from different categories like fragrances, and beauty & makeup, male grooming, food & beverages, and others.
The startup offers product samples to consumers across product categories and asks for real-time feedback from users post sampling.
Speaking about the development, Siddhartha Nangia, Co-founder of Smytten, said,
“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 the 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.”
The startup presently hosts 900+ brand partners on its platform across 12 categories and is looking at adding five more categories and category experts. Smytten is also looking at significant brand building and expects every Indian to know about Smytten.
Smytten clocks around 40% from the B2C sampling segment, 20-25% from the brand commission segment, and the rest from the sampling analysis and data sharing segment. The platform aims to go international by the end of 2022, with expansion plans across Southeast Asia and the Middle East.
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