Gurgaon-based online discovery platform for premium products and services, Smytten, has raised an undisclosed amount of funding from angel investor Rajan Anandan, vice-president of Google for Southeast Asia and India.
Founded in 2015 by Swagata Sarangi, an ex-Google executive and Siddhartha Nangia, an FMCG industry veteran, Smytten is an online discovery platform for premium products & services. It offers assisted shopping by curating offerings for consumers as per their preferences, which is done through startup’s backend algorithm that focuses on analytics.
Swagat Sarangi, co-founder of Smytten said that the startup will use the newly raised capital to launch new vertical for curated premium experiences for fine dining, events around wine tasting and others for Delhi and Mumbai soon. Besides, it will expand to Bangalore and Hyderabad with its Beauty and Wellness services, as it generates the majority of sales from the segment.
Smytten offers lifestyle products and services in health & fitness, beauty & grooming, luxury stays, and premium services.
The startup has also tied up with brands to work on their marketing campaigns and customer analytics, apart from working as an affiliate. Swagat said that with margins ranging from 25% to 40%, the platform also works with brands for analytics on new product launches, a consumer survey, and feedback. It claims to have tied up with over 80 brands so far with the exception of apparel and fashion categories.
Smytten had previously raised $200K in a seed round of funding led by Rimpal Chawla, ex-MD of Credit Suisse Asset Management India and Anuj Srivastava, CEO of Livspace and an angel investor.
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