Smytten raises angel funds from Google’s Rajan Anandan
Smytten is looking to use this round of funding to enhance user experience, to develop the product and to expand the user and brand base
Mumbai: Surfboats Solutions Pvt. Ltd, which operates an online discovery platform for premium lifestyle products and services called Smytten, said on Monday that it has raised an undisclosed amount of funding from Google India head Rajan Anandan.
The company had previously raised $200,000 in November last year.
The company that was founded by Siddhartha Nangia and Swagata Sarangi in 2015 is looking to use this round of funding to enhance user experience, to develop the product and to expand the user and brand base. It will also focus on artificial intelligence and algorithmically personalise offerings on their platform.
“We have designed the Smytten interface with absolute simplicity to make it a delight for our users to interact and use. Also, a strong focus on data-driven curation has helped us get extremely high engagement rates, with daily returning users beating industry standards," said Sarangi in a company statement.
The online market for premium lifestyle is being disrupted due to huge e-commerce adoption by India’s working population, and discretionary consumer spending. Less than 1% of the market is online today, and is poised to grow to a healthy 10-15% in the next 3-4 years. Direct consumer engagement is the key to growth in the segment. Smytten is looking to solve the discovery and engagement problem for both brands and consumers, creating a scalable online model for high-end products and services.
Smytten is an invitation-only lifestyle platform. It provides its customers an engaging and curated discovery trial and shopping experience for premium products and services. It has over 80 domestic and international brands on its platform, and thousands of engaged consumers. It offers products across multiple lifestyle categories like beauty, health and wellness and lifestyle. Brands such as Sebastian, Truefitt & Hill, L’Occitane, Bottega di Lunga Vita, Sportif, Inoho and Haute Chef, among others, have signed up with the company.
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