News Update
E-commerce Roll Up Firm Mensa Brand joins the Unicorn Club
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ByTejika Bajaj | November 22, 2021
E-commerce roll-up firm Mensa Brands recently announced that it has raised $135 million in its Series B round of funding led by Falcon Edge Capital’s Alpha Wave Ventures. The round also saw participation from existing investors like Accel Partners, Norwest Venture Partners, Prosus Ventures and Tiger Global Management.
Till date, the 6 month old startup has raised $300 million through equity and debt. The recent round of infusion has taken the valuation of the startup to just over $1 billion, giving it entry to the unicorn club.
Mensa Brand has overtaken the professional networking platform Apna to become the fastest Indian startup to become a unicorn. According to estimates, the e-commerce player was valued at $250 million in its tranche in September this year.
The funds acquired by the Bengaluru-based startup would be utilized to invest and acquire direct-to-consumer brands, hire across multiple functions and to ramp up the technical infrastructure. The company also claims to have hit profitability though the actual profit or revenue remains undisclosed.
Founded in 2021, Mensa Brand partners and invests in digital-first brand in the categories of fashion and apparel, home and garden, beauty and lifestyle and food and scales the e-commerce platforms exponentially. Till date, the company has partnered with 12 brands and has reported a 100% growth year-on-year basis following the collaboration.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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