E-commerce roll-up Mensa Brands raised $ 135 million from Falcon Edge Capital in its Series B round, led by Alpha Wave Ventures. Existing investors Accel Partners, Norwest Venture Partners and Tiger Global Management. Prosus Ventures (formerly Naspers) also invested in the cafeteria in this latest round of financing.
According to Mensa, it has raised a total of more than $ 300 million in equity and debt, and has started the new round of financing with over $ 1 billion.
Mensa Brands has overtaken the professional networking platform Apna and is the fastest Indian startup to become unicorns. As per TrickypediaIt is estimated that Mensa was valued at around $ 250 million during its last installment in September.
Ola Electric and InMobi’s Glance were the other two companies to reach a valuation of $ 1 billion within two years of their inception
The Bengaluru-based company will use the funding to invest directly in and acquire consumer brands, cross-functional recruitment and build the technical infrastructure.
Significantly, the six-month-old company also claims to have hit profitability. However, no sales and profit figures will be disclosed.
Mensa partners and invests in digital-first brands in the fields of fashion and apparel, home and garden, beauty and personal care, and groceries, and is scaling them exponentially. To date, the company claims to have worked with 12 brands, most of which have grown 100% annually since being incorporated into the company.
Mensa competes directly with GlobalBees, Goat Brand Labs, Evenflow, 10club and Powerhouse91. All of them have raised funds this year and according to media reports, GlobalBees could be. will another unicorn from the e-commerce roll-up area.
A total of 37 startups achieved unicorn status in 2021 and Good Glamm Group, Curefit and Mensa are the youngest participants, who only started their new round in November. Six companies in October: Licious. CoinSwitch Kuber, Rebel Foods, MobiKwik, CarDekho and Acko had checked into the coveted club of unicorns.