MyMuse India: Comprehensive Company Profile

Background

Overview

Founded in 2021 by Sahil Gupta and Anushka Gupta, MyMuse India is a pioneering direct-to-consumer (D2C) brand dedicated to redefining sexual wellness in India. The company offers a diverse range of intimate wellness products, including massage oils, stress relief massagers, lubricants, and couple's games, all designed to enhance intimacy and promote open conversations around sexual health.

Mission and Vision

MyMuse aims to normalize discussions about sexual wellness and provide high-quality, aesthetically pleasing products that integrate seamlessly into daily life. The brand's mission is to make intimacy easy, approachable, and fun for the modern Indian, thereby breaking longstanding societal taboos.

Industry Significance

Operating within India's burgeoning sexual wellness market, which was valued at $1.15 billion in 2020 and is projected to reach $2.09 billion by 2030, MyMuse stands out by offering gender-neutral products and fostering a culture of openness and education around sexual health.

Key Strategic Focus

Core Objectives

• Product Innovation: Develop and introduce thoughtfully designed, high-quality sexual wellness products that cater to a diverse audience.

• Market Expansion: Strengthen omnichannel presence and expand distribution networks across India, with a particular focus on Tier II and Tier III cities.

• Educational Initiatives: Break societal taboos by providing informative and relatable content through platforms like "unLearn," aiming to educate and empower consumers.

Areas of Specialization

MyMuse specializes in creating intimate wellness products that are gender-neutral and designed to enhance the intimate experiences of individuals and couples. The product range includes:

• Massage Oils and Lubricants: Formulated with dermatologist-approved ingredients to ensure safety and comfort.

• Stress Relief Massagers: Crafted from medical-grade silicone, emphasizing quality and user experience.

• Couple's Games and Gift Kits: Designed to foster connection and intimacy between partners.

Key Technologies Utilized

While MyMuse's primary focus is on product design and quality, the company leverages digital platforms for marketing, customer engagement, and educational content dissemination. This includes the use of social media channels and their content platform "unLearn" to reach and educate their audience.

Primary Markets Targeted

MyMuse targets the Indian market, with a particular emphasis on urban and semi-urban populations. The brand has served over 150,000 customers across more than 800 cities, indicating a broad and diverse consumer base.

Financials and Funding

Funding History

• August 2022: Raised $1.2 million in funding led by Saama Capital, with participation from Sauce VC and Whiteboard Capital.

• January 2024: Secured $2.7 million in Pre-Series A funding from Trifecta Capital and CRED’s founder Kunal Shah, with participation from existing investors.

Utilization of Capital

The funds have been allocated towards:

• Inventory Financing: Ensuring product availability to meet growing demand.

• Omnichannel Expansion: Strengthening distribution networks and establishing a presence across various sales channels.

• Product Development: Introducing innovative products to diversify the portfolio.

• Brand Awareness: Investing in online and offline marketing initiatives to enhance brand visibility.

Pipeline Development

Product Portfolio

MyMuse offers a curated selection of over 25 products, including:

• Full-Body Massagers: Designed for stress relief and enhanced intimate experiences.

• Lubricants and Intimate Oils: Formulated to ensure safety and comfort.

• Couple’s Games and Gift Kits: Aimed at fostering connection and intimacy between partners.

Product Development Initiatives

The company engages in continuous product development, often involving internal competitions to generate innovative ideas. A beta testing community of approximately 250 users provides pre-launch feedback, ensuring products meet consumer expectations.

Technological Platform and Innovation

Proprietary Technologies

While MyMuse does not emphasize proprietary technologies, it focuses on:

• Product Design: Ensuring products are aesthetically pleasing and user-friendly.

• Material Quality: Utilizing medical-grade silicone and dermatologist-approved ingredients to ensure safety and comfort.

Scientific Methodologies

The company employs rigorous quality checks and transparent labeling to inform consumers about materials and safety standards. This approach builds trust and ensures product reliability.

Leadership Team

Sahil Gupta – Co-founder

Sahil brings experience from the pharmaceutical industry, having worked with a Hong Kong-based pharma company, Joint Force. His expertise lies in marketing and business development, which he leverages to drive MyMuse's growth and market presence.

Anushka Gupta – Co-founder

Anushka holds a degree in psychology and has a background in marketing, including experience with WeWork India. She focuses on product development and brand strategy, ensuring that MyMuse's offerings resonate with consumers and align with the company's mission.

Competitor Profile

Market Insights and Dynamics

The Indian sexual wellness market is experiencing significant growth, projected to reach $2.09 billion by 2030. This expansion is driven by increasing awareness, changing cultural attitudes, and a growing emphasis on holistic well-being.

Competitor Analysis

Key competitors in the Indian sexual wellness market include:

• Bold Care: Focuses on men's sexual health and wellness products.

• Sangya Project: Offers a range of intimate products and educational content.

• That Sassy Thing: Provides intimate products designed to empower women.

• Love Treats: Curates a selection of sexual wellness products for the Indian market.

These competitors emphasize product quality, educational initiatives, and destigmatizing sexual wellness, similar to MyMuse's approach.

Strategic Collaborations and Partnerships

MyMuse has engaged in strategic collaborations to enhance its product offerings and market reach:

• Setu: Partnered to produce Boost Gummies, entering the billion-dollar sexual health market.

• Quick Commerce Platforms: Expanded into platforms like Zepto, Blinkit, and Swiggy Instamart, achieving a 670% growth in quick commerce revenue in 2024.

Operational Insights

Market Position

MyMuse has established itself as a leading brand in India's sexual wellness industry by focusing on quality, education, and destigmatization. The company's gender-neutral approach and emphasis on design and safety set it apart from competitors.

Competitive Advantages

• Educational Content: Platforms like "unLearn" provide valuable information, fostering consumer trust and engagement.

• Product Quality: Use of medical-grade materials and dermatologist-approved formulations ensure safety and comfort.

• Discreet Packaging: Ensures customer privacy, addressing a significant concern in the market.

Strategic Opportunities and Future Directions

Expansion Plans

MyMuse aims to:

• Omnichannel Presence: Establish a robust presence across online and offline channels.

• Product Diversification: Introduce new products catering to various life stages and preferences.

• Geographical Reach: Expand into Tier II and