MyMuse Raises $2.7 Million in its Most Substantial Pre-Series A Funding Round

• ByStartupStory     |    January 9, 2024

Direct-to-consumer brand MyMuse, focusing on sexual wellness, has successfully secured a Pre-Series A funding of $2.7 million (approximately INR 22.4 crore) from Trifecta Capital and Kunal Shah, founder of CRED. This round, encompassing both debt and equity capital, witnessed continued support from existing investors like Saama Capital, Sauce VC, and Whiteboard Capital, among others.

The infusion aims to fuel various aspects of MyMuse’s operations, including inventory management, amplifying its omnichannel presence, and expanding distribution networks throughout India. Additionally, the funds will drive product portfolio diversification and brand awareness via online and offline marketing initiatives.

Established in 2021 by Sahil Gupta and Anushka Gupta, MyMuse stands out for its gender-neutral sexual wellness products, boasting a lineup of over 25 items accompanied by educational content. Sahil Gupta noted, “Our consistently high product demand signifies a substantial gap between supply and demand in our industry. Examining our product adoption data, particularly in tier III cities, emphasizes the crucial need we address, long ignored in India.”

Anushka Gupta echoed this sentiment, highlighting the significant community support witnessed by MyMuse over the past years, indicating a growing openness among Indians to prioritize sexual wellness as an integral part of their overall well-being.

The startup has reported a robust 15% month-on-month growth and has served more than 150,000 customers across 800 cities, spanning tier I, II, and III markets. MyMuse attributes its success to an innovative, cost-effective product range that has invigorated an otherwise antiquated and disjointed industry.

Before this round, the Mumbai-based startup had secured $1.2 million from Saama Capital, Sauce VC, Whiteboard Capital, and several angel investors.

Competing in the sexual wellness domain with brands like Bold Care and Kindly, MyMuse aims to capitalize on the evolving landscape of this market. Reports project significant growth for the Indian sexual wellness segment, estimated to reach $2 million by 2030, boasting a 5.8% CAGR from its 2020 valuation of $1.1 million.

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