Thrasio model not only created a buzz in the USA, but in India also it is on rising from last 2-3 months. Mensa, the new venture founded by digital entrepreneur Ananth Narayanan, plans to create a “House of the Brands” as Thrasio did in the US. Investors have also approved his idea of the Thrasio model and Mensa raised a record-breaking $50 million in its series A round.
About Mensa and the Founder Ananth Narayanan
Ananth Narayanan, the successful digital entrepreneur, founded Mensa in April 2021 to grow the existing online brands that are selling their product and services on e-commerce platforms like Amazon.
Narayan has rich experience in the digital branding field due to his successful journey as a founder and as a core management team member in different online organizations. He has 15+ years of experience as a Director and Managing Partner in Mckinsey. Later, he joined Myntra as a CEO and worked there for four years up to 2019.
In July 2019, he co-founded Medlife and continued for approximately 2 years as CEO. He has also worked as a board trustee and member in few organizations including Marico, Arghyam, and others.
Initially, Mensa plans to invest and grow digital-first brands having turnover in the range of Rs 10 crore to Rs 70 crore per annum. In the coming three years, Mensa has a target to acquire over 50 rising brands.
Talking about Mensa, Narayanan said that Mensa means ‘constellation’ in the ancient Greek language signifying Mensa Brands’ aspiration to create a cluster of $50 mn – $100 million star brands.
Mensa Raised $50 Million in Series A Round
Mensa got an overwhelming response from the investors due to its unique operations and the rich experience of Narayanan in the digital branding field. The firm raised $50 million in its series A financing round led by Accel Partners, Falcon Edge Capital, Norwest Venture Partners as well as prominent angel investors including Kunal Shah, Mukesh Bansal, Rahul Mehta of DST Global, and Scott Shleifer of Tiger Global.
The company also successfully collaborated with Alteria Capital and InnoVen Capital for debt financing operations.
With the help of current funding, Mensa will invest or acquire the existing brands from the different categories including home, garden, apparel, personal care, and beauty that are currently selling on Amazon, Flipkart, Myntra, Ajio, and Nykaa.
Narayanan-led Mensa is a team of experienced staff that has worked nationally and internationally both. Moreover, they have rich experience in the e-commerce sector. As per Mensa’s claim, the team currently has a combined experience of over 60 years in Indian and global e-commerce.
Mensa will help the collaborated brands in the field of digital marketing, technology advancement, and product selection.
Accel Partners, the existing investor, showed full trust in Ananth and his team. Accel believes that not only are they truly strategic and high caliber, but also have chosen a problem of brand aggregation that we believe has the right tailwinds.
Thrasio model has brought a big change in the Indian startup ecosystem within 2-3 months. As per the latest report, the Thrasio model has raised over $400 million in few months.