Mensa Brands raises $50 million in Series A round
Fashion start-up Mensa Brands has raised around $50 million in its series A funding round that was led by Accel Partners, Falcon Edge Capital, and Norwest Venture Partners, along with angel investors such as Kunal Shah, Mukesh Bansal, Rahul Mehta of DST Global, and Scott Shleifer of Tiger Global.
The company will utilise the funds to strengthen its network and scale up its digital-first brands across lifestyle, home and beauty categories.
Commenting on the investment, Subrata Mitra partner at Accel Partners, in a statement said: “We’re excited to partner with Ananth and the team at Mensa. Not only are they truly strategic and have a high calibre, but also have chosen the problem of brand aggregation that we believe has the right tailwinds. With the digital acceleration of commerce globally, this model would be additive to the brand owners, the platforms and the consumers and should thus scale rapidly.”
Navroz Udwadia, co-founder of Falcon Edge added: “Ananth and Mensa are creating a fast growth and profitable start up – a rare combination, and we fundamentally believe that a tech-led roll up play across categories will create immense value.”
Mensa Brands was started by former Myntra CEO and plans to acquire over 50 brands across categories over the next three years,
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