Private Equity Fund Investments
Digital consumer goods firm Mensa raises $50-M from Accel, Falcon, Norwest, others
Bengaluru-based Mensa Brands, promoted by former Myntra CEO Ananth Narayanan and built on the model of US-based digital consumer goods firm Thrasio, has raised USD 50 million in Series A round of funding from Accel Partners, Falcon Edge Capital and Norwest Venture Partners. Angel investors such as Kunal Shah, founder of Cred; Mukesh Bansal, founder of Curefit; Rahul Mehta, managing partner of DST Global and Scott Shleifer, partner at Tiger Global, also participated in the round. The round also included debt financing facilities secured from Alteria Capital and InnoVen Capital. Mensa plans to acquire over 50 digital-first brands in the next three years across categories such as home, garden, apparel, personal care and beauty. It plans to acquire a majority stake in the business at first, partner with the entrepreneur to grow the brand and then give him or her a full exit in 2-4 years. The funds raised will be used mainly for acquiring brands, and also for marketing and branding besides boosting the product and technology divisions of Mensa.
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