MyMuse, a intimacy brand, has successfully raised US$2.7 million in a mix of debt and equity financing. According to the company’s press statement, this is the largest pre-series A funding in the Indian sexual wellness industry.
The round saw participation from existing institutional investors – Saama Capital, Sauce VC, and Whiteboard Capital – demonstrating their confidence in MyMuse’s vision. Joining the round were unicorn backer Trifecta Capital, and notable angels including Kunal Shah.
Launched by husband-wife duo, Sahil (HBS MBA ’19, ex-Private Equity) & Anushka Gupta (ex-WeWork India, OML) in 2021, MyMuse is India’s foremost brand dedicated to sexual wellness.
“Seeing a gap in the market for high-quality adult products, the couple decided to create a new-age, gender-neutral brand that reframes how Indians approach intimacy– making it easy, approachable, and fun. With over 25 discreet, well-designed products, spanning full body massagers, lubricants, oils, couple’s games & gift kits, plus original educational content, MyMuse has been able to break taboos and build a loyal community,” the company said in a statement.
The brand has witnessed immense growth (~15% m-o-m), and served 150,000+ customers across 800+ cities in India thus far, across Tier 1, 2, and 3 markets. With innovative and affordable product launches reshaping how the industry is perceived, MyMuse has catalysed the growth and acceptance of an otherwise outdated and fragmented industry.
The fresh funds will be used to finance inventory, strengthen the brand’s omnichannel presence, and scale its distribution operations nationally, the company stated.
“We are constantly sold out of our most popular products, proving that demand far outstrips supply in our industry. When we look at the data on our product adoption, especially across Tier 3 cities, we know we’re just touching the tip of the iceberg in solving a basic need for Indians that has been brushed under the carpet for far too long,” Sahil Gupta, Co-founder of MyMuse, said.
The Mumbai-based start-up had previously raised $1.2 million in August 2022 from Saama Capital, Sauce VC, Whiteboard Capital, and various angel investors.
Co-founder Anushka Gupta adds, “Over the past 2+ years, we’ve witnessed incredible brand love and community support, demonstrating that Indians are truly ready to embrace sexual wellness as a part of their holistic wellbeing. We’re excited to keep bringing people products that improve their relationships with themselves and their partners.”
MyMuse also plans to increase its product portfolio and brand awareness through robust online and offline advertising and activations, it stated.
“There is an increased awareness about sexual wellness. As awareness increases, there is a higher demand for sexual wellness products. The sexual wellness industry in India is projected to hit $2.09 billion by 2030. There couldn’t be a better time for MyMuse to be a leader in this otherwise disorganised sector. With consistent growth, a diverse product portfolio and great branding and marketing, they are already India’s most trusted and loved sexual wellness brand. We’re sure they will be a household name in the coming years.” said Ash Lilani, Managing Partner, Saama Capital.