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Minifeel Founders
Mumbai-based Minifeel, a startup for consumers to discover premium beauty products, has raised Rs 3 crore in a pre-seed funding round led by 100X.VC.
A clutch of 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 startup.
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 startup also serves as a marketing channel for brands to help create awareness among the right consumers at zero cost. It is a scalable brand marketing platform without worrying about rising customer acquisition costs.
According to the company's statement, The startup plans to utilize the funds to develop the technology to personalize the consumer's experience by recommending the best products that suit them.
Additionally, It will focus on increasing its 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.”
"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,” Ninad Karpe, Founder & Partner, 100X.VC.
Vijay Jain, Advisor & Investor of Minifeel (former CEO Ritu Kumar, Founder and Ex CEO Orra), said, “Minifeel fills a huge gap in the market, benefiting both brands and consumers. Focused on personal care, it allows brands to reach a larger audience and enables consumers to try out products in smaller or mini sizes at 1/4th the cost. It focuses on paying customers rather than giving away the products for free. The business is based on a huge gap in the market and is scaling rapidly with a focus on the commercials.”
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