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In Some Great News Mensa Brands Generates USD 50 Million in Series A Funding
- 3rd Jun 2021
Myntra is a formidable name in the online fashion segment in India today. Myntra CEO Ananth Narayanan has created a different business venture by the name of Mensa Brands. As per news reports from sources Mensa Brands has managed to raise around USD 50 million in Series A funding. Accel Partner has been at the forefront of the series A funding for Mensa Brands which has been a mix of equity and debt in the venture.
What is Mensa?
Mensa Brands is a direct-to-consumer start up with an objective to back and invest in contemporary consumer brands under a “House of Brands” enterprise. The major objective that Mensa will follow is to identify digital first brands and help them grow scale substantially. To such digital first ventures, Mensa would also provide the required marketing, working capital, strategies and other support.
In the next 36 months Mensa aims for an acquisition of more than 50 digital first startups in myriad categories like apparel, beauty, personal care, home, and garden. Mensa is following a business model akin to American company Thrasio, which is in the acquisition of direct-to-consumer brands on Amazon.
Mr. Narayanan believes that scaling digital brands from India is a huge opportunity and that he is greatly excited about the same. He is driven by the passion of working together with formidable founders and assisting them is growing their brands across the world. With his experience at Myntra and Medlife he understands the effort needed to grow a brand digitally and feels that Mensa would certainly be the true trustee of these upcoming digital first brands.