With Sharp Ventures, Waao Partners, Survam Partners and Sattva Group Family Office, e-commerce enabler Smytten has raised Rs 100 crore in a Series B round led by its existing investors Fireside Ventures and Roots Ventures. Within a week of collecting 35 million and its seeds from GoKwik, Shopflo, Tiger Global and others, this is the third investment of an e-commerce enabler, indicating the development of this segment after the epidemic.

Smytten Funds plans to optimize marketing channels for D2C brands using AI and advanced ML applications to create its technology and data solutions and capture and benefit consumers from creating new products. The startup plans to invest heavily in the supply chain, marketing, research and insights, and building service infrastructure across the country.

Smytten was founded in 2015 by Siddharth Nangia and Swagata Sarangi, former executives of Unilever and Google. So far, the startup has raised over $ 20 million in institutional funds. “Today, as a consumer base, we have over 10 million users and over 900 brand partners with whom we work. We are a female-dominated platform with more than 70% female and 30% male and a strong non-metro presence,” said Siddharth Nangia, co-founder of Smytten.

The company currently has an annual recurring income of Rs 150 crore and plans to increase it to Rs 500 crore in 12 months. Like other brands, Smytten has increased eight times since the epidemic; the D2C brand has been widely adopted at the time. “We launch a new brand on our platform every day, bringing more than 15-20 new products to our customers every day for consumers to try,” Nangia added.

Japan Vyas managing partner at Roots Ventures, said: “Smytten has grown revenue more than 12 times since our investment. We have participated in every round of their financing and will continue to support them in the future with greater conviction. We are very confident that Smytten will be a very large, profitable and fundamentally strong business in the global consumer-technological space.

“Growth has flattened for some D2C brands over the past few months, and experts expect some consolidation this year.