Indian starts Mensa Brands has raised $135 million Series B funding that values the company at over $1 billion. The company has become a unicorn just six months after launching its business and is also India’s fastest unicorn.
This funding round was led by Falcon Edge Capital. Prosus Ventures and other existing investors including Tiger Global, Norwest Venture Partners, and Accel also participated in this funding round.
Mensa Brands acquires direct-to-consumer brands and helps them scale within the home market and overseas. The company was founded by Ananth Narayanan ex-chief executive of Myntra.
Mensa Brands currently houses 12 brands across three categories — apparel, beauty, and personal care, and home. 80% of brands are run by women. Initially, the company acquires a majority stake in a brand it partners with and wishes to fully acquire them in five years. Mensa Brands help these brands organize and optimize their inventories across all popular marketplaces.
Narayanan claims that the majority of the brands Mensa Brands has acquired so far are growing at 100% year on year. The company is currently working closely with another 20 brands acquisition deals.
