Mensa Brands becomes India’s fastest unicorn with $135 million in funding
Just six months after launching, Mensa has been valued at a billion dollars.
Former Myntra CEO Ananth Narayanan’s Mensa Brands has raised $135 million in fresh funding, valuing the six-month-old startup at over a billion dollars. It is the fastest Indian startup to become a ‘unicorn’.
The first report about Mensa becoming a unicorn appeared on Moneycontrol on October 4. Mensa follows a similar model to Thrasio, which buys profitable, well-reviewed online sellers from Amazon and turbocharges their growth with technology, marketing, and growth-oriented products.
Mensa has bought 12 brands in men’s wear, designer sarees, jewelry, intelligent devices, and personal care. The company claims that most of these brands have grown 100 percent year-over-year since they were acquired.
Mensa is one of India’s best-funded eCommerce rollup companies, competing with GlobalBees, Upscalio, and GOAT Brand Labs. GlobalBees is also in talks to raise funds.
“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. These levers meaningfully accelerate the growth and margin trajectory of the brands and make them well-poised to become category leaders,” said Navroz Udwadia, co-founder and partner at Falcon Edge Capital.