Direct-to-consumer sexual wellness brand MyMuse has raised Pre-Series A funding of $2.7 Mn (approximately INR 22.4 Cr) from Trifecta Capital and CRED’s founder Kunal Shah.
The round, which is a mix of both debt and equity capital, also saw participation from existing investors including Saama Capital, Sauce VC and Whiteboard Capital, among others.
MyMuse plans to use the fresh proceeds to finance inventory, strengthen its omnichannel presence and scale its distribution operations across India. It also aims to increase its product portfolio and brand awareness via online and offline advertising and activations.
Founded in 2021 by Sahil Gupta and Anushka Gupta, MyMuse offers gender-neutral sexual wellness products. With a range of more than 25 products including original educational content, the startup aims to break the social taboos around sexual health.
“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 III 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,” said Sahil Gupta.
Anushka Gupta added that over the past two years, MyMuse has witnessed community support, demonstrating that Indians are truly ready to embrace sexual wellness as a part of their holistic well-being.
The startup claims to have witnessed a 15% MoM growth and catered to more than 1,50,000 customers across over 800 cities in India’s tier I, II and III markets. The startup said that with innovative and affordable product range, it has catalysed the growth and acceptance of an otherwise outdated and fragmented industry.
Prior to this, the Mumbai-based startup raised $1.2 Mn from Saama Capital, Sauce VC, Whiteboard Capital, and various angel investors.
In the sexual wellness market, the startup competes with the likes of Bold Care and Kindly, among others.
According to a market study, the Indian sexual wellness segment was valued at $1.1 Mn in 2020 and is expected to reach $2 Mn by 2030 at 5.8% CAGR.
The post Sexual Wellness Startup MyMuse Bags $2.7 Mn To Bolster Omnichannel Presence appeared first on Inc42 Media.
