Based in Haryana, India, e-commerce startup Smytten has raised US$ 6 million in a Series A funding round led by Fireside Ventures. The venture round, held on August 24 2021, also saw the participation of the startup’s existing backer, Roots Ventures, along with Sharrp Ventures (Mariwala family office), Survam Partners (Suman Kant Munjal family office), and Waao Partners (Pratul Shroff family office).
What the CEO has to say
Co-founders of Smytten, Swagat Sarangi and Siddhartha Nangia, further commented on the fundraise as “Pre-purchase buying experience will be the biggest enabler and fuel the burgeoning Indian D2C market which is projected to touch $100 billion in next 4-5 years. 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.”
They continued, “Smytten is poised to re-craft the standard playbook of brand creation with the deep tech solutions we are building based on the trial intent and feedback from millions of consumers. It will empower the next generation of D2C brands with actionable insights and a captive audience to scale their business very fast. We are delighted to partner with all our new investors on board as they bring in a wealth of experience on consumer brands that will help us create a robust D2C ecosystem.”
What the Investors have to say
Co-founder of MamaEarth, Varun Alagh, said “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.”
Venture Partner at Fireside Ventures, Kannan Sitaram, who Smytten would be welcoming as its new board member, said, “We at Fireside believe the development of an enabling ecosystem presents a great investable opportunity and will be a big game-changer for the consumer brand revolution that’s shaping up in India. We are very excited to partner with Swagat and Siddhartha as they create data-driven experiential solutions for brands to engage with the right users based on very accurate behavioural targeting, which helps reduce their CAC and engagement cost.”
Managing Partner at Roots Ventures, Japan Vyas, said, “Smytten’s revenue has grown 8X 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 $10B sampling and advertising market in the projected $100B D2C brand market by 2025. It also has a great product-market fit for large international markets like Southeast Asia and the Middle East, making them the first port of call for every consumer brand.”
CO-founded by ex-Googler Swagat Sarangi and ex-Unilever executive Siddhartha Nangia in 2015 as a luxury product sampling service, Smytten is India’s leading online platform for consumer product discovery and trials. The startup is enhancing the way India’s online consumers discover, interact with, and try consumer products and services. It hosts 700+ brand partners on its platform across lifestyle categories, ranging from fragrances, beauty & makeup, male grooming, food & beverages, baby & mother care, health & wellness, and offers product samples to consumers across these categories to help them make the right purchase decisions. It also provides its brand partners with a suite of services, data & insights needed for quick scaleup during the early growth phase. To know more, check out https://smytten.com/.
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