Mensa Companies, which invests in digital brands, announced on Tuesday that it had secured $135 million at a worth of roughly $1.2 billion, making it the fastest Indian business to achieve unicorn status. Falcon Edge Capital’s growth-stage platform Alpha Wave Ventures led the fundraising deal. Accel Partners, Norwest Venture Partners, and Tiger Global Management were among the previous shareholders in the round and newcomer Prosus Ventures.
Mensa Works in Close Collaboration with Founding Teams
Mensa initially started in May 2021, intending to partner with and invest in digital-first firms in fashion and apparel, homewares, personal care products, and food, and enormously scaling them. According to a release, Mensa works in close collaboration with founding teams to expedite growth on marketplaces through the brand’s websites and worldwide platforms by combining product, price, marketing, delivery, and brand building strategies with a technological platform at heart.
Mensa buys the majority share in independent brands to assist them in scaling up through machine learning and artificial intelligence. “We’re looking to find brands that aren’t simply Indian but can be taken worldwide,” Narayanan, the former CEO of Walmart’s Indian online fashion arm Myntra, told Reuters.
Narayanan Said the Fresh Money to be Spent for Expanding the Company
Amazon AMZN.O, Walmart’s WMT.N Flipkart, and Reliance’s RELI.NS Ajio is among the dozen brands in the company’s portfolio that sell online shops. Mensa is already successful, according to Narayanan, who said that the fresh money will be used to invest in technology and expand the company’s portfolio to roughly 40 brands by the end of 2023. Mensa Brands intends to use the new funds to accelerate expansion, expand acquisitions, and increase its operations, marketing, and technology teams. The company currently employs about 60 people and plans to grow to 150 to 200 in 12 to 18 months.
Relaxed mornings 🙂 pic.twitter.com/BO4PLD1528
— Ananth Narayanan (@ANarayanan24) April 5, 2021
The Founding Team of Mensa has over 100 Years of Expertise
Mensa Brands is a brand aggregation company that was founded this year. It purchases and collaborates with digital companies to help them develop faster by delivering on-the-ground expertise and tech-driven marketing and operations initiatives. Mensa creates global digital-first brands by working with exemplary innovators, financing the business, and putting our skills to bear on the brand’s scaling. The founding team has over 100 years of collective expertise in Indian and international e-commerce.
The Head of Investments in India Said, “We are Thrilled to be a Part of Mensa.”
“We’re thrilled to be a part of Mensa Brands’ mission to create digital-first global brands.” In India, Ashutosh Sharma, Prosus Ventures’ head of investments, said, “The team provides excellent implementation focus and technology capabilities to assist new firms scale digitally.”