Minifeel Raises INR 3 Crore In Pre-Seed Funding Round Minifeel plans to utilize the funds to develop the technology to personalize the consumer's experience by recommending the best products that suit them
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Minifeel, a Mumbai-based startup for consumers to discover premium beauty products at incredible offers, has raised INR 3 crore in a pre-seed funding round led by 100X.VC. Angel investors like Vijay Jain (Founder of ORRA Jewellery), Ajay Mokariya and Ganesh Iyer (MD and Joint MD of Shree Maruti ), Yash Kotak (Founder of Jumper.ai), Niraj Chhajer (Partner at Pransh Capital), Bhanushali Angel Investor Network among others further invested in the company. Minifeel plans to utilize the funds to develop the technology to personalize the consumer's experience by recommending the best products that suit them.
According to an official release, the company will also increase its number of trial product offerings for customers by partnering with premium beauty brands.
The beauty and personal care sector is one of India's fastest-growing market segments. The industry is witnessing a boom from the rapid growth of direct-to-consumer companies in online retail. It's an excellent time for Minifeel to work with new-age beauty brands to connect them with the right consumers and make them aware of innovative and exciting new products," said Sagar Mithiya, founder, Minifeel.
Minifeel offers premium skincare and cosmetic products like serums, cleansers, makeup and more in mini/trial packs, allowing customers to try out any product at affordable costs (almost 1/4th of the price). The company also serves as a marketing channel for brands to help create awareness among the right consumers at zero cost. Minifeel provides a win-win proposition for brands as well as consumers as it provides a cost-effective platform for consumers to experience various cosmetics products and an innovative customer acquisition tool for beauty brands, added the statement.
"As the beauty industry thrives, Minifeel is trying to carve its own path and establish a distinct identity. With its steadfast vision to lead the industry by being customers' preferred go-to for trying new products, we are delighted to be the first institutional investors in Minifeel. The depth of the target market is enormous and is growing further. Therefore, we are optimistic that Minifeel is poised for rapid growth and success," said Ninad Karpe, founder and partner, 100X.VC.
