Monday, February 26, 2024
HomeInsightFunding Alert Mensa Brands Secures $40 Mn In Debt Funding From EvolutionX

[Funding alert] Mensa Brands Secures $40 Mn In Debt Funding From EvolutionX

A number of direct-to-consumer businesses are owned and run by Mensa Brands Technologies Pvt. Ltd, which secured $40 million (roughly Rs 330 crore) from growth-stage debt funding platform EvolutionX Debt Capital.
Ananth Narayanan, Founder & CEO of Mensa Brands

A number of direct-to-consumer businesses are owned and run by Mensa Brands Technologies Pvt. Ltd, which secured $40 million (roughly Rs 330 crore) from growth-stage debt funding platform EvolutionX Debt Capital.

The money was raised by Mensa Brands using debt and convertible capital.

Read also – Cordis Acquires Medtech Company MedAlliance

“In the last two years, we have profitably scaled more than 20 brands across beauty, FMCG, fashion, home and consumer electronics,” said Ananth Narayanan, founder and chief executive officer of Mensa Brands.

The company will use the additional proceeds to make brand-building investments. It will only use the money to increase capabilities in marketing, operations, and technology.

Read also – Fintech Unicorn slice to merge with North East Small Finance Bank (NESFB)

“Mensa has proven its execution capabilities with the successful acquisition of multiple brands, and we look forward to supporting the company’s journey as it continues to grow its brands both in domestic and international markets,” said Rahul Shah, partner at EvolutionX Debt Capital.

The company owns and runs a number of consumer brands, including Pebble, which makes intelligent wearables and audio devices, MyFitness, which sells peanut butter, Dennis Lingo, which sells men’s clothing and accessories, and Villain, which makes perfume and personal care products.

Read also – [Funding alert] ClearFeed Secures $2.7 Mn Seed Funding Led by Peak XV accelerator Surge

Mensa scales brands using its knowledge of e-commerce, technology, marketing, category management, and demand planning.

About Mensa Brands

Ananth Narayanan, a former CEO of Myntra, co-founder of Medlife, and senior partner at McKinsey, founded Mensa Brands. They have an enthusiastic group of operators who help scale and grow brands, and their core team has more than 60 years of ecommerce experience.

Read also – [Funding alert] AI Startup Induced Secures $2.3 Mn Seed Funding Led by Sam Altman & Peak XV Partners

Viestories

RELATED ARTICLES
- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -