Thrasio-style Mensa Brands raises Series A funding of USD 50 million

Date: 2021-06-01   Author: Pankaj Singh  Category: #news

Thrasio-style Mensa Brands raises Series A funding of USD 50 million

Ananth Narayanan, famous for founding Myntra, has reportedly formed a new company Mensa Brands, based on the model of American digital consumer goods venture Thrasio. Mensa Brands has reportedly raised a Series A funding of USD 50 million from Falcon Edge Capital, Norwest Venture Partners, and Accel Partners.

Also, angel investors like Mukesh Bansal, founder of Curefit, Kunal Shah, founder of CRED, Scott Shleifer, partner at Tiger Global, and Rahul Mehta, managing partner of DST Global were involved in this round. This funding round also consisted of debt financing from debt funds like InnoVen Capital and Alteria Capital.

Based on the business model of Thrasio, the company plans to scale the digital-first brands by establishing partnerships with them and making investments in their businesses.

Thrasio is a renowned startup that finds bestselling and highly-rated products on Amazon and buys out the company linked to that product. After this, it inculcates these brands onto its operating platform and helps them in upscaling their businesses.

The US-based company has been in business for just three years, but its rapid rate of success has assured investors of its potential. Narayanan is not the first Indian entrepreneur who has tried replicating this business model for the domestic market.

Tiger Global has reportedly held talks to financially assist Goat Brands Labs, a startup founded by Rishi Vasudev, which has plans to acquire and expand lifestyle brands. Meanwhile, Firstcry is also planning to launch an investment venture based on the Thrasio business model. The venture, termed Global Bees, will buy and upscale standalone brands selling products online.

Mensa Brands, if given the opportunity, has plans to obtain 50 brands over the next three years across categories like garden, home, personal care, apparel, and beauty.

CEO and founder of Mensa, Narayanan has apparently stated that the startup plans to look out for profitable companies that are capable of crossing annual revenues in the range of INR 7 crore to INR 70 crore.

Source Credits:

https://www.moneycontrol.com/news/business/startup/thrasio-type-startup-mensa-brands-raises-50-million-from-accel-falcon-and-others-6964401.html



About Author


Pankaj Singh linkdin-boxtwitter

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

Post Recommendents

Automotive Collision Repair Service market to grow substantially through 2026

Author: Partha Ray

Market Study Report has launched a report on Automotive Collision Repair Service Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides...


Mobile Point-of-Sale (mPOS) market to showcase an annual healthy growth rate over 2021-2026

Author: Partha Ray

Market Study Report has announced the launch of Mobile Point-of-Sale (mPOS) market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusi...


IoT in Intelligent Transportation System market size to record a substantially CAGR over 2021-2026

Author: Partha Ray

Market Study Report provides a detailed overview of IoT in Intelligent Transportation System market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of IoT in Intelligent Transportation ...