Mensa Brands becomes India's fastest unicorn

Mensa Brands, founded by former Myntra CEO Ananth Narayanan, has raised $135 million in fresh funding, which valued the six-month-old venture at over a billion dollars. This makes it the fastest Indian start-up to become a 'unicorn'.

This $135-million Series B funding round was led by its existing investor Falcon Edge Capital, along with other existing investors like Accel, Norwest and Tiger Global Management. Prosus (Naspers) is the new entrant in the league.

Mensa has acquired 12 brands so far in categories such as designer sarees, jewellery, men's wear, smart devices and personal care. Most of these brands are growing 100 percent year-on-year since the time of acquisition, the company said.

"Our deep focus on technology and digital brand building, as well as our people, has allowed us to grow three times our initial plan and we, at Mensa Brands, are primed to build global breakout brands from India. I am especially proud that more than 50 percent of our brands are led by women founders and that Mensa supports small and medium sized businesses across the country," Narayanan said