Mhyth Secures Angel Funding, Valued at $1 Million Within a Month of Launch

• ByStartupStory     |    December 13, 2024

Mhyth, a premium lingerie brand founded by entrepreneur Mitali Rai, has raised its Angel Round of funding, achieving a valuation of over $1 million just a month after its inception. The brand aims to disrupt the premium fashion lifestyle segment with its unique designs and a commitment to empowering women globally.

Commenting on the investment, Sandeep Daga, Founder and Managing Director of Nine Rivers Capital, said, “We believe in Mitali’s vision to redefine the lingerie segment with a brand that prioritizes premium quality, inclusivity, and craftsmanship. MHYTH has the potential to emerge as a formidable player in this high-growth segment.”

Mhyth was launched by Rai, a tech entrepreneur turned businesswoman, who envisions creating a brand that celebrates individuality and style. The company plans to scale its operations by leveraging international manufacturing capabilities while establishing an Indian production unit to highlight local craftsmanship.

Vivek Mittal, Chief Operating Officer and Founding Member of Mhyth, shared insights into the company’s future plans, stating, “The funding will be directed toward research and development efforts to tailor the brand’s offerings to the diverse needs of women worldwide.”

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