After Raising USD 135 Million In Funding, Mensa Brands Bags Unicorn Status

New Delhi: Mensa Brands on Tuesday hit ''unicorn'' status after it raised $135 million in a series B funding round.

Based on this, the valuation of the company comes to over $1 billion.

According to an official statement, Prosus Ventures (Naspers) and all existing investors Essel Partners, Norwest Venture Partners and Tiger Global Management also participated in the Series-B financing round.

According to a report in Reuters, the Chief Executive Ananth Narayanan who founded Mensa in May asserted that the company now had a "north of a billion dollar valuation".

Reportedly, the company has also acquires majority stakes in independent brands, in a bid to help them scale up using data analytics and machine learning.

"We're trying to look for brands that are not just from India but can also be taken global," Reuters quoted him as saying.

The portfolio of the company includes several brands which sell their products on online stores including Reliance's Ajio, Walmart's Flipkart and Amazon.

Reportedly, the company will use the new funds to invest in technology and it will also increase the brands in its portfolio to around 40 by 2023.

In the six months since its launch, Mensa has raised $300 million in equity and debt.

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