India-based direct-to-consumer (D2C) brand developer Mensa Brands has raised $135m in series B funding from investors including Prosus Ventures, a subsidiary of internet holding group Prosus, TechCrunch reported today.
Asset manager Falcon Edge Capital led the round, which valued the company at over $1bn, participating together with Tiger Global Management, Norwest Venture Partners (NVP) and Accel. It has now received more than $300m in equity and debt financing altogether.
Founded in May 2021, Mensa buys majority stakes in digital direct-to-consumer (D2C) brands operating globally in areas including home, apparel, beauty and personal care, before fully acquiring them within a five-year timeframe.
The company has 12 brands under its auspices, 80% of which are led by women, according to founder Ananth Narayanan. It had raised $33m in an August 2021 round co-led by Alpha Wave Incubation and NVP and backed by Accel.
Accel, Falcon Edge Capital and NVP had taken part in Mensa’s $50m series A round three months before with angel investors including Kunal Shah, Mukesh Bansal, Rahul Mehta and Scott Shleifer, while debt financing was supplied by Alteria Capital and InnoVen Capital.
Ashutosh Sharma, India-based head of investments for Prosus Ventures, said: “We are excited to support Mensa Brands in their journey to build digital-first global brands from India.
“Their team brings superior execution focus and technology chops to help emerging brands scale digitally. This is an incredible time for made-in-India businesses, and we look forward to helping to fuel their future success.”
