FUNDING NATIONAL
MUMBAI, MAHARASHTRA, INDIA
By IFAB MEDIA - NEWS BUREAU - July 25, 2023 | 141 3 minutes read
The startup provides a range of high-quality skincare and cosmetic products, including serums, cleansers, makeup, and more, available in mini or trial packs at an astounding one-fourth of their regular price.
Minifeel, an innovative Mumbai-based beauty startup, has successfully secured ₹3 crore in a pre-seed funding round, with 100X.VC leading the investment. This funding round marks an important milestone for the company as it continues to revolutionize the beauty and personal care industry in India.
Minifeel's unique business model offers customers the opportunity to try premium skincare and cosmetic products in mini or trial packs at a fraction of their original price. The startup's cost-effective approach not only attracts consumers but also serves as a powerful marketing channel for beauty brands to reach their target audience at zero cost.
With 100X.VC being the first institutional investor in Minifeel, the startup received further support from prominent angel investors, including 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), and the Bhanushali Angel Investor Network.
Sagar Mithiya, the visionary Founder of Minifeel, emphasized the immense potential of India's beauty and personal care sector, which is experiencing significant growth due to the rapid rise of direct-to-consumer companies in the online retail space. With this funding, Minifeel is poised to work closely with new-age beauty brands, creating a bridge that connects them with the right consumers and introduces the public to innovative and exciting new products.
The startup plans to allocate the capital raised to enhance its technology, offering customers a personalized experience by recommending products that best suit their unique needs and preferences. Additionally, Minifeel aims to expand its range of trial product offerings by collaborating with more premium beauty brands.
Ninad Karpe, Founder & Partner at 100X.VC, expressed great optimism about Minifeel's future prospects. He recognized the vast potential in the target market, which is continuously growing, indicating the startup's potential for rapid growth and success.
As Minifeel continues its mission to redefine the beauty shopping experience, it remains dedicated to providing consumers with an accessible platform to explore a wide array of cosmetics products. Simultaneously, it serves as a valuable customer acquisition tool for beauty brands looking to gain traction in a competitive market.
With the recent influx of funding and the support of esteemed investors, Minifeel is well-positioned to capitalize on the thriving beauty industry in India and drive innovation in the way consumers discover and engage with beauty products. As the startup's journey unfolds, it seeks to transform the beauty landscape, introducing India's beauty enthusiasts to a world of quality, variety, and affordability.