Mensa Brands raises $40mn from debt financing platform EvolutionX
- With this fresh funding, Mensa Brands said it plans to continue investing in brand building, driven by strong capabilities across technology, operations, and marketing
Bengaluru-based Mensa Brands, led by former Myntra CEO Ananth Narayanan, has secured $40 million in growth capital from EvolutionX Debt Capital. The deal is a combination of debt facility and convertible investment.
With this fresh funding, Mensa Brands said it plans to continue investing in brand building, driven by strong capabilities across technology, operations, and marketing.
Mensa Brands owns and operates over 20 consumer brands across fashion, beauty and home, including Pebble (smart wearables and audio), MyFitness (peanut butter), Dennis Lingo (men’s lifestyle and apparel) and Villain (perfume and personal care).
Mensa Brands founder and CEO Ananth Narayanan said, “In the last 2 years, we have profitably scaled more than 20 brands across beauty and FMCG, fashion, home and consumer electronics. We plan to use this new funding to continue building consumer-loved brands for the next generation of India.”
Rahul Shah, Partner of EvolutionX Debt Capital: “Mensa has proven its execution capabilities with 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. With this investment, we continue our strategy to invest in category-leading growth stage tech companies in Asia.”
In November 2021, Mensa Brands raised $135 million at a valuation of more than $1 billion. In total, the startup has raised $200 million in equity from investors, including Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus, Ventures and Tiger Global Management. It has also secured debt financing from Alteria Capital, InnoVen Capital, Stride Ventures, and TradeCred.
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