Mensa Brands has raised $50 million in its Series A spherical led with the aid of using Accel Partners, Falcon Edge Capital and Norwest Venture Partners. Prominent angel buyers along with Kunal Shah, Mukesh Bansal, Rahul Mehta of DST Global and Scott Shleifer of Tiger Global have additionally participated withinside the spherical.
The investment spherical withinside the Ananth Narayanan-led startup additionally has a few debt additives from Alteria Capital and InnoVen Capital. Narayanan has formerly served because the CEO of Myntra-Jabong from 2015 to 2019 after which joined Medlife as its CEO. He left Medlife in March 2021 after its merger with PharmEasy.
Based at the version of US-primarily based Thrasio, Perch and Branded, Mensa acquires manufacturers which are in general bought thru e-trade marketplaces along with Amazon and Flipkart. It companions and invests in online-first manufacturers and scales them exponentially.
According to Mensa, it’ll collect extra than 50 manufacturers throughout classes which include home, garden, apparel, private care and beauty. The business enterprise could be searching at manufacturers which have annual sales of among Rs 10 crore to Rs 70 crore.
Accelerating the dimensions of mid-length manufacturers on Amazon has been attracting great hobby from buyers withinside the US.
Thrasio has raised over $1 billion withinside the final 3 years and purchased extra than one hundred manufacturers while Target Global, Tiger Global and others have led a $one hundred fifty million spherical in Branded and taken it out of its stealth mode.
On comparable lines, the version is likewise warm in India and except Mensa, FirstCry is likewise eyeing to elevate $seventy five million from SoftBank, TPG Capital, ChrysCapital and Premji Invest to reflect Thrasio.
Goat Brands Labs, a comparable startup released with the aid of using former Flipkart’s govt Rishi Vasudev’, changed into reportedly in talks to elevate about $20 million in its first spherical of investment led with the aid of using Tiger Global.
Going forward, extra agencies on this area are anticipated to elevate funds. In February, Powerhouse, a brand new project released with the aid of using co-founders of girls hygiene emblem Azah, had raised an undisclosed spherical from Titan Capital.
Entrackr had solely said Titan Capital’s funding in Powerhouse.
It’s really well worth noting that Mensa could be the 0.33 funding in India for Shleifer in his private capacity. Previously, Shleifer had sponsored social trade platform DealShare. According to Entrackr’s sources, he has additionally invested in DealShare’s competitor CityMall thru a secondary deal.
