L&L Partners advised Surfboats Solutions Private Limited (Surfboats) on its Series A1 Round of investment lead by Fireside Ventures Investment Fund – II (Scheme Of Fireside Ventures Investment Trust II) (Fireside) and Roots Ventures-II (Roots) through which is has raised INR ~100 Crores. In addition to Fireside and Roots, the round witnessed participation of inter alia Waao Partners, Hero Growth Fund, Neelanchal Edifice, and Mr. Rishabh Mariwala. It is understood that pursuant to this round, the valuation of Surfboats has doubled.
Smytten is India’s largest premium discovery and trial platform and operates a multi category online sampling platform for premium consumers and brands as offering free trials and curated shopping across 20+ lifestyle categories like beauty, skincare, health & wellness, through 700+ premium brands and more through its platform. Post this transaction, Surfboats intends to focus on expansion of business and brand building, and accordingly plans to utilize the funds to acquire customers, hiring key employees and further acquisition of customers and users.
The transaction team was successfully led by Partner Nitin Gera, ably supported by Associate Kartik Chatrath.
The deal has been widely reported. Some links are provided below: