09 February 2023, Mumbai
Mensa Brands will raise Rs 300 crores in debt funding. The business plans to use the funds to acquire new brands and grow its existing brands as well as develop its products, integrate its supply chain, and invest in working capital.
Mensa is pioneering the path to an industry-first tech-led house of brands with its five breakout category leaders. With this additional capital, Mensa can get serious on growth ambitions.
Mensa Brands was launched in 2021. The business currently has a portfolio of 25 brands in sectors spanning fashion, beauty, homeware, and other fast moving consumer goods. By partnering with direct-to-customer brands, Mensa Brands aims to use its technology and experience to scale them up. Within six months of launching, Mensa Brands was declared a unicorn.
Bangalore-based Mensa is India’s fastest start-up to enter the unicorn club. The business has backing from investors including Falcon Edge Capital, Prosus, and Accel Partners, among others. Recent brand acquisitions include MensXp, Idiva, and Hypp.
By focusing on the direct-to-customer segment of the market, Mensa Brands aims to tap into this fast growing market in India where businesses have built a social media following and turned it into sales from their own e-commerce store.
