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Mensa Brands: The Fastest Startups to Reach Unicorn Status
Profitable first quarter, one billion in valuation, all and all in six months; Meet Mensa Brands, the fastest Indian startup to achieve unicorn status. Incorporated in May 2021, this direct-to-consumer brand aggregator breaks the previous record set by jobs platform Apna, cab aggregator Ola Electric, etc.
What makes Mensa Brands so unique?
Built on the lines of popular American startup Thrasio, Mensa Brands identify, acquires, and invests in online-first brands and scale them exponentially within the home market and overseas. To date, Mensa acquired a majority stake in 10 online-first brands across fashion and apparel, home and garden, beauty and personal care, and gourmet.
What's the business model of Mensa Brands?
Following the acquisition of these brands, the founders and their teams became part of Mensa. Together, they work closely to accelerate growth on marketplaces by applying a combination of initiatives across product, pricing, marketing, distribution, and brand building on global platforms and the brand's own website.
How much funding did Mensa raise in these 6 months?
Mensa has raised a total of $300 million in equity and debt since starting its operation in May 2021. Mensa Brands raised $135 million from its existing investors in Series B round - Accel Partners, Norwest Venture Partners, and Tiger Global Management. Prosus Ventures (Naspers).
Future Plans?
According to Narayanan, "the majority of the brands Mensa has acquired so far are growing at 100% year-on-year since their integration."
Mensa's vision is to acquire and invest in 50 digital-first brands across – home, garden, apparel, personal care, and beauty categories, and scale them exponentially.
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