Mumbai-based startup Minifeel, which allows customers to try beauty products at home before buying them, has raised Rs 3 crore in a pre-seed funding round led by 100X.VC. 100X.VC was the first institutional investor in Minifeel. Angel investors 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.
The startup offers premium skincare and cosmetic products like serums, cleansers, makeup and more in mini or trial packs at almost one-fourth of their price. “The company also serves as a marketing channel for brands to help create awareness among the right consumers at zero cost,” it said in a statement.
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Minifeel said it plans to deploy the capital raised to develop the technology to personalize the consumer’s experience by recommending the best products that suit them. The company said it will also increase its number of trial product offerings for customers by partnering with premium beauty brands.
Sagar Mithiya, Founder of Minifeel, said, “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.”
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“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,” Ninad Karpe, Founder & Partner, 100X.VC. Minifeel positions itself as a cost-effective platform for consumers to experience various cosmetics products and a customer acquisition tool for beauty brands.
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