Smytten raises Rs 100 crore funds led by Fireside and Roots Ventures

• ByStartupStory     |    May 17, 2022

Smytten, an item examining and engagement platform for direct-to-consumer brands has raised Rs 100 crore (around $15 million) in its most recent funding round driven by its current investors Fireside Ventures and Roots Ventures. The round likewise saw investment from Marico NSE 1.50 % chairman Harsh Mariwala’s family office Sharrp Ventures, Einfochips founder and CEO Pratul Shroff family office- Waao Partners, Rockman Industries chairman Suman Kant Munjal family office’s Survam Partners along with Sattva Group family office.

In August, the company raised $6 million in its Series A funding led by Fireside Ventures. It also raised $1.5 million from Roots Ventures in its pre Series A round of funding. It collects around 40% from the B2B sampling sector and nearly 20-25% from the brand commission segment with the remaining from the sampling analysis and data sharing category.

Smytten plans to use the funds to employ engineering talent and improve its tech framework with the assistance of AI and ML (Artificial Intelligence and Machine Learning) for the purpose of brand building and customer acquisition.

The company was founded in 2015 by Swagat Sarangi, the ex-Googler and Siddhartha Nangia, the ex-Uniliver Executive with an aim to create an online platform for product trials in different areas like men grooming, fashion, makeup, food and beverages.

Nangia, the co-founder and CEO of the brand said that post-pandemic the company has seen increased growth in tier-I and tier-II cities and would continue to grow its online platform. He also said that the brand has to have also a worldwide presence and so they are set to launch the company in the Middle East, Vietnam, the Philippines and the Southeast Asian countries in the next 2 years. 

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