Smytten Raises INR 100 Crore In Pre-Series B
The fund will be used to double down the resource strength across key functions including supply chain, marketing, research, insights and accelerate growth
Smytten, a product discovery and trial platform, has raised INR 100 crore in pre-Series B led by Fireside Ventures and Roots Ventures. The round also saw participation from Sharrp Ventures (Harsh Mariwala family office), Waao Partners (Pratul Shroff family office), Survam Partners (Munjal family office) and Sattva Group family office.
The new investment will primarily be used for building many industry-first tech and data solutions with advanced applications of AI & ML to optimize the marketing funnel for D2C brands starting from new product development to consumer acquisition and retention. Also, the platform is going to invest heavily in creating a best-in-class servicing infrastructure across the country to widen the product trial touch points and strengthen the online service delivery to better the pre-purchase buying experience for consumers at scale.
"We believe sampling-led tried-and-tested methods of customer engagement will change the way D2C brands and consumers interact, making it more immersive and experience-based. Smytten has re-crafted the standard playbook of brand creation with the deep tech solutions built based on trial intent and feedback from millions of consumers. It is empowering the next generation of D2C and multi-national brands with actionable insights and a captive audience to scale their business fast. We are launching a new brand a day on our platform and bringing more than 15-20 new products every day to consumers to try. We are thankful to all our brand partners who have placed trust and confidence as we create a robust D2C ecosystem," said Siddhartha Nangia, co-founder of Smytten.
"We continue to believe in the development of an enabling ecosystem for the consumer brand revolution that's shaping up in India and Smytten is right at the forefront of it. Their integrated approach to consumer funnel and technological innovations to solve the key challenges faced by many D2C brands, makes them the unequivocal leader in a potentially $10B sampling and advertising market. The data-driven experiential solutions are already making waves and Smytten is becoming the first port of call for every consumer brand" said Kannan Sitaram, partner at Fireside Ventures.
Smytten was launched by ex Unilever and Google executives, Siddhartha Nangia and Swagata Sarangi.