The company is looking to acquire 60-65% in online-first brands that have a revenue of Rs 10-70 crore.
Former Myntra CEO and Medlife co-founder Ananth Narayanan’s brainchild, Mensa Brands, has raised USD 50 million. The funding will be a mix of equity and debt led by Falcon Edge, Accel Partners, and Norwest Venture Partners. This round also saw participation from marquee angel investors including Rahul Mehta of DST Global, Kunal Shah, Scott Shleifer of Tiger Global, Mukesh Bansal, to name a few.
‘Our aim is to create a technology-led ‘House of Brands’ that is built for the e-commerce world. We will partner and invest in digital-first brands and scale them. Over the next three years, Mensa will acquire over 50 brands across various categories,’ said Mensa Brands founder and Chief Executive Officer Ananth Narayanan.
Mensa is loosely based on American firm Thrasio which acquires third-party brands on Amazon. The company is looking to acquire 60-65% in online-first brands that have a revenue of Rs 10-70 crore. It’s the right time to focus on building a platform of brands because the sector has huge potential coming out of the Covid-19 pandemic.
Source: Business World
