Mensa raises 50 million dollars in Series A
2 Jun 2021
Mensa Brands, a new business formed my Myntra CEO Ananth Narayanan, has raised 50 million dollars in Series A funding. The new funding came from a mix of equity and debt in a round led by Accel Partner, as reported by the Economic Times.
Mensa Brands is a direct-to-consumer startup whose goal is to invest in new-age consumer brands under a “House of Brands” initiative. Mensa’s goal is to find digital first brands and scale them exponentially. Mensa also provides company with marketing, working capital, and operational improvement.
Mensa’s goal over the next three years is to acquire over 50 brands in categories including apparel, beauty, personal care, home, and garden. The company’s model is similar to that of U.S. based Thrasio, which acquires direct-to-consumer brands on Amazon.
“Scaling digital brands from India is a large opportunity. Incredibly excited and passionate about partnering with terrific founders and helping scale their brands globally. Having seen this first hand at Myntra and Medlife we know the effort it takes to scale a brand digitally – we will be a true trustee of your brand,” Narayanan said in a statement.