Debt financing
House of brands unicorn Mensa raises Rs.48-Cr from Stride Ventures
Tiger Global-backed, Bengaluru-headquartered house of brands startup BRND.ME (formerly Mensa Brands) is raising INR 48 crore (around USD 5.6 million) debt from existing investor Stride Ventures. The unicorn will issue 4,800 non-convertible debentures (NCDs) to raise the sum. The firm plans to use the capital to meet its working capital requirements.Founded in 2021 by former Myntra CEO Ananth Narayanan, BRND.ME owns and operates consumer brands such as Pebble, MyFitness and Dennis Lingo. It earns a majority of its revenue from sale of products.The firm has raised over USD 300 million in total funding to date and counts Accel Partners, Prosus, Tiger Global, Norwest Venture Partners, Alpha Wave, Alteria Capital, InnoVen Capital among its backers.
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