Mensa Brands, founded by Ananth Narayanan, former CEO of Myntra, has raised $135 million in additional capital, valuing the six-month-old company at over a billion dollars. This makes it the quickest Indian startup to achieve the status of “unicorn.”
Mensa follows a concept similar to that of Thrasio in the United States, which buys lucrative, well-reviewed online merchants on Amazon and uses technology, commerce, and product maturity to accelerate their growth.
“We are excited to announce our partnership with ten remarkable founding teams that have created beloved digital brands,” Mensa Brands CEO Ananth Narayanan said. “We are committed to propelling their journey forward and working together to build global breakout brands from India. At Mensa, we are passionate about using technology to build digital brands that are rooted in bringing joy to our customers.”
Falcon Edge Capital’s current investor and other surviving investors such as Accel, Norwest, and Tiger Global Management led this $135 million Series B fundraising round. Prosus (Naspers) is the most recent addition to the league.
Till date, Mensa has purchased 12 companies in categories such as designer sarees, jewellery, men’s apparel, intelligent gadgets, and personal care. The majority of these companies have grown by 100% year over year since their purchase, according to the corporation.
Priyaasi, a Delhi-based traditional and contemporary jewellery firm, incorporates traditional artwork and materials into modern designs, making it appropriate for any occasion.
Dennis Lingo, a men’s casual clothing company based in Mumbai, is a major participant in the Indian shirt industry. Ishin, a Mumbai-based women’s ethnic wear label, is noted for its traditional and fusion Indian clothing lines, including kurtas, kurtis, sarees, drapes, and accessories.
Hubberholme is a Delhi-based inexpensive men’s casualwear business that focuses on high-street design and athleisure. Anubhutee, a Jaipur-based women’s ethnic clothing business, is noted for its high-quality, trendy, and traditional designs, which are created to meet the tastes and ambitions of its customers.
Helea, a Mumbai-based smart home device startup, is on a mission to make living easier, safer, and greener for a better tomorrow by developing creative and cheap IoT (Internet of Things) solutions.
Villain, an Ahmedabad-based men’s personal care firm, sells a variety of perfumes, garments, and accessories, including sunglasses and gym gear. Villain co-founder Ashutosh Valani (who previously created Beardo, a men’s grooming company) stated that the company would work together to make Villain a household-name lifestyle brand for men throughout India.
