Mensa Brands raises $135 million in Series B funding round
The D2C (direct-to-consumer) house of brands Mensa Brands Ltd has raised a $135 million (Rs 1,003 crore) Series B funding round led by Falcon Edge’s Alpha Wave Ventures at a valuation of over one billion dollars.
Existing investors like Accel Partners, Norwest Venture Partners, and Tiger Global Management, Prosus Ventures (Naspers) also participated in the funding round.
The company plans to utilise the funds to strengthen its team across functions coupled with the acquisition of new brands in its quest to become a global house of brands.
Commenting on the funding, Ananth Narayanan, founder and CEO of Mensa Brands, in a statement said: “We are looking to build a global tech house of brands. We're trying to genuinely see if we can build a new age house of brands. It has been a good strong start for us and have partnered with 12 brands already. All of the 12 brands we have on our portfolio are growing at 100 percent year-on-year.”
Navroz Udwadia, co-founder and partner of Alpha Wave Ventures, added: “We are excited to continue backing Ananth Narayanan as he executes a best-in-class playbook of brand aggregation and acceleration focused on Indian and global e-commerce brands. Mensa demonstrates a tangible uplift through a combination of product and pricing optimization, technology-led process improvement, distribution, and marketing augmentation and fine-tuning the supply chain.”
Mensa Brands had recently acquired a majority stake in 10 digital-first brands across fashion, home, and beauty. It plans to acquire around 50 brands across categories over the next three years.
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