The sampling platform will utilise the fresh capital for scaling up the user base and building tech and data solutions
Smytten, a sampling and engagement platform for direct-to-consumer (D2C) brands, has raised $6 million in its Series A funding round led by Fireside Ventures. Sharrp Ventures, Survam Partners, Waao Partners, and existing investor Roots Ventures also participated in the round. The sampling platform will utilise the fresh capital for scaling up the user base and building industry-first tech and data solutions to optimise the marketing funnel for D2C brands, it said in a statement. Additionally, the new funding will also be used in creating robust servicing infrastructure across the country to widen the product trial touch points along with strengthening the online service delivery.
“Pre-purchase buying experience will be the biggest enabler and will fuel the burgeoning Indian D2C market which is projected to touch $100 billion in next four to five 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,” Swagat Sarangi and Siddhartha Nangia, founders, Smytten, said.
“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,” they added.
The platform, founded by Swagat Sarangi, and Siddhartha Nangia, claims to host over 700 D2C brand partners on its platform across varied categories. It witnessed a 100% growth in its user base post-pandemic, the platform claimed in a statement. It works with leading D2C brands like Mamaearth, Plum, mCaffeine, among others. According to Varun Alagh, co-founder, MamaEarth, Smytten has worked out to be one of the most efficient, targeted, and data-driven sampling platforms for the brand. Its sampling ROI has been great on the platform, while the latter has helped the brand drive trials amongst a lot of first-time users efficiently.
With D2C becoming mainstream, brand marketers need fresh, sharper solutions that can help in creating the right brand experience for consumers, Kannan Sitaram, Venture Partner, Fireside Ventures, and board member, Smytten, said. Fireside Ventures believes the development of an enabling ecosystem presents a great investable opportunity, Sitaram added.