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## Bengaluru-based Mensa Brands Secures $40 Million in Growth Capital

Bengaluru-based Mensa Brands, led by former Myntra CEO Ananth Narayanan, has recently announced that it has secured $40 million in growth capital from EvolutionX Debt Capital. The funding is a combination of a debt facility and convertible investment, providing Mensa Brands with the necessary financial resources to further expand its business operations. This latest development highlights the growing interest and confidence in Mensa Brands’ unique business model and future prospects.

## Continued Investment in Brand Building with Fresh Funding

With the infusion of this fresh funding, Mensa Brands has outlined its plans to continue investing in brand building activities. Leveraging its strong capabilities across technology, operations, and marketing, the company aims to enhance and strengthen its brand portfolio. This strategic move signifies Mensa Brands’ commitment to solidifying its presence in the market and establishing itself as a prominent player in the industry.

## Diverse Portfolio of Consumer Brands

Mensa Brands currently owns and operates over 20 consumer brands spanning various sectors including fashion, beauty, and home. These brands include Pebble (smart wearables and audio), MyFitness (peanut butter), Dennis Lingo (men’s lifestyle and apparel), and Villain (perfume and personal care). By diversifying its brand portfolio, Mensa Brands aims to cater to the evolving consumer demands and preferences across different product categories.

## CEO’s Vision for Future Growth

Ananth Narayanan, the founder and CEO of Mensa Brands, expressed his excitement about the recent funding and shared his vision for the company’s future growth. He stated, “In the last 2 years, we have profitably scaled more than 20 brands across beauty and 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.” Narayanan’s vision highlights the company’s relentless pursuit of creating brands that resonate with modern consumers.

## Positive Outlook from EvolutionX Debt Capital

Rahul Shah, Partner of EvolutionX Debt Capital, expressed confidence in Mensa Brands’ capabilities and growth potential. He acknowledged the company’s successful acquisition of multiple brands and expressed eagerness to support Mensa Brands’ journey as it expands its brands both domestically and internationally. This investment reflects EvolutionX Debt Capital’s strategy of investing in category-leading growth stage tech companies in Asia, further underscoring the strong market position of Mensa Brands.

## Impressive Fundraising Track Record

Mensa Brands’ recent funding from EvolutionX Debt Capital adds to its already impressive fundraising track record. In November 2021, the company raised $135 million at a valuation of over $1 billion. In total, Mensa Brands has raised $200 million in equity from prominent investors including Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus Ventures, and Tiger Global Management. Moreover, the company has also secured debt financing from notable firms such as Alteria Capital, InnoVen Capital, Stride Ventures, and TradeCred. These funding milestones are a testament to the market’s recognition of Mensa Brands’ innovative business model and its potential for sustained growth.

## How AI legalese decoder Can Help

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