Mensa brands enters into the unicorn club
Mensa Brands has raised $135 million in its Series B round led by Falcon Edge Capital’s Alpha Wave Ventures.
Mensa Brands has secured $135 million in a Series B investment headed by Falcon Edge Capital’s Alpha Wave Ventures. Accel Partners, Norwest Venture Partners, and Tiger Global Management are among the existing investors. In this latest fundraising round, Prosus Ventures (previously Naspers) has also invested in Mensa.
According to Mensa, it has received more than $300 million in stock and debt, with the new fundraising round valued at more than $1 billion.
Mensa Brands has topped Apna, the professional networking site, to become the quickest Indian firm to achieve unicorn status. Mensa was valued at around $250 million during its most recent tranche in September.
The other two startups to reach a $1 billion value within two years of their inception were Ola Electric and InMobi’s Glance. The funding will be used by the Bengaluru-based company to invest in and acquire direct-to-consumer brands, recruit across divisions, and expand its technology infrastructure.
Mensa partners with and invests in digital-first brands in fashion and clothing, home and garden, beauty and personal care, and food, and then expands them exponentially. So far, the company claims to have worked with 12 companies, the bulk of which are expanding at a rate of 100 % year on year since integrating with the company.
Mensa competes directly with GlobalBees, Goat Brand Labs, Evenflow, 10club, and Powerhouse91. All of them raised funds this year, and according to media sources, GlobalBees may become the next unicorn in the e-commerce roll-up industry.
