India Dealbook: Smytten, Kosha raise early-stage funding

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The burgeoning startup ecosystem in India is abuzz with action. While online discovery platform Smytten has raised $1.5 million to expand its operations, winter wear brand Kosha has garnered seed capital from a slew of individual and financial investors.

Roots Ventures invests in Smytten

Gurugram-headquartered online discovery platform Smytten has raised $1.5 million from its existing investor Roots Ventures, per an ET report.

The alternative asset manager had backed Smytten in its seed round as well. With the current round of funding, the total corpus raised by the startup stands at about $3 million.

Smytten, established in 2015, ties up with premium and luxury brands and provides them with a targeted sampling strategy in the country. It plans to use the funding to expand its user base, and spruce up its infrastructure and offline presence.

Roots Ventures made headlines last year for raising its maiden Rs 300 crore fund.

Winter wear brand Kosha secures seed funding

Winter wear brand Kosha has garnered seed capital from a slew of individual and financial investors including Tres Monos Capital and Narendra Hiranandani, founder of Enhira Software, according to an announcement.

Launched in June 2017 to cater to the millennial traveler, Kosha claims to be the first Indian brand to blend bamboo and merino wool into t-shirts cum thermals.

The current round of funding will help the company expand its operations. Kosha, that sells fashionable trench coats, accessories and sweaters, among others, is understood to have sold over 10,000 thermals and another 600 jackets since inception.