POLITICS

How Myntra ex-CEO’s new startup entered the unicorn club in just six months

Reported By:DNA Web Team| Edited By: DNA Web Team |Source: DNA Web Desk |Updated: Nov 18, 2021, 07:49 AM IST

Former CEO of Myntra Ananth Narayanan’s new startup Mensa Brands that was founded just six months ago has become the newest entrant to the unicorn club with Narayanan becoming the youngest member of the group. Reports suggest that Ananth Narayanan has raised USD 135 million at a valuation of about USD 1.2 billion.

The Bengaluru-headquartered Mensa Brands is a startup that targets direct-to-consumer brands and helps them scale up their business within India and overseas. Mensa is modeled after three-year-old US startup Thrasio that acquires and collaborates with brands on Amazon in other markets.

Narayanan exited MedLife and sold it to Pharmeasy just six months ago before starting the new venture. Before that, he was also the CEO of Myntra. A unicorn is a company valued over one billion dollars, in terms of the startup sector. Within six months of starting the business, Mensa has raised a total of over USD 300 million in equity and debt. 

About Mensa

Mensa which means ‘constellation’ in Greek started its journey in May this year with a vision to partner and invest in digital-first brands.

This is across fashion and apparel, home and garden, food, beauty and personal care and scales them exponentially.

Mensa works closely with founding teams to accelerate growth on marketplaces, through the brand’s own websites and global platforms.

It uses a combination of initiatives across product, pricing, marketing, distribution and brand building with a technology platform at the core.

Mensa has partnered with 12 brands, most of which are reporting a 100% year-on-year growth since the integration.

The company typically buys a majority stake in brands across categories and along with its founders, scales them up.

This is done with the help of technology and digital marketing on platforms such as Amazon and Flipkart among others.

Mensa Brands supports small and medium-sized businesses across the country, claims founder Ananth Narayanan.

According to Ananth Narayanan, more than 50% of their brands are led by women founders.

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