E-commerce Roll Up Firm Mensa Brand joins the Unicorn Club
- 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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