Mensa Brands raises $40 million in growth capital from EvolutionX

Mensa Brands has also secured debt financing from Alteria Capital, InnoVen Capital, Stride Ventures, and TradeCred. (Image Credit: Freepik)

Mensa Brands, a popular digital House of Brands, has secured $40 million in growth capital from EvolutionX Debt Capital through a combination of debt facility and convertible investment. In its official release, Mensa Brands has stated that it plans to continue investing in brand building, driven by strong capabilities across technology, operations, and marketing with this fresh funding. The brand owns and operates several popular poducts like Pebble (smart wearables and audio), MyFitness (peanut butter), Dennis Lingo (men’s lifestyle and apparel) and Villain (perfume and personal care).

Earlier in November 2021, Mensa Brands had raised $135 million at a valuation of more than $1 billion, making it the fastest Indian start-up to reach unicorn status. It has raised $200 million in equity from marquee global investors including Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus,Ventures and Tiger Global Management.

It has also secured debt financing from Alteria Capital, InnoVen Capital, Stride Ventures, and TradeCred.

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Talking about the development, Ananth Narayanan, Founder & CEO of Mensa Brands said, “We are excited to partner with long-term marquee investors like EvolutionX. In the last 2 years, we have profitably scaled more than 20 brands across beauty & FMCG, fashion, home and consumer electronics. We plan to use this new funding to continue building consumer-loved brands for the next-generation of India.”

Seconding the sentiment, Rahul Shah, Partner of EvolutionX Debt Capital, stated, “We are excited to partner with Mensa as the company continues to scale revenues and margins of digital-first consumer brands by leveraging technology along with brand building activities. Mensa has proven its execution capabilities with successful acquisition of multiple brands, and we look forward to supporting the company’s journey as it continues to grow its brands both in domestic and international markets. With this investment, we continue our strategy to invest in category leading growth stage tech companies in Asia.”

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