After Myntra and Medlife, here’s what Ananth Narayanan is up to
Ananth Narayanan is no stranger to building ecommerce brands. He was the CEO of Myntra and joined Medlife as Co-founder and CEO, which was later acquired by PharmEasy.
In May 2021, he launched his new venture Mensa Brands, which wants to work with homegrown D2C brands, which generate over 70 percent of their sales online, have an annual revenue range of Rs 10-70 crore, and are profit-generating.
"Mensa aims to partner with the best founders and brands, invest in a majority stake of these brands, and create an operating system for them to scale, which will be a combination of product, technology, and ecommerce expertise," he tells YourStory.
Last month, it raised approximately $50 million in a Series A round led by Accel Partners, Falcon Edge Capital, Norwest Venture Partners as well as prominent angel investors such as Kunal Shah, Mukesh Bansal, Rahul Mehta of DST Global, and Scott Shleifer of Tiger Global.
The founding team at Mensa has a combined experience of over 60 years in Indian and global ecommerce, bringing in-house domain expertise in marketplace-native technology, data mining and digital marketing, category management and operations, brand building, and global expansion.
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For the last 10 years, Ashvin Chadha, Co-founder of Anicut Capital, has been doing private equity transactions in the consumer and financial services space.
He believes that country is now at a stage where the US was in the 90s or early 2000s — the golden age of early-stage investing. He says that some of the best companies are going to come up in India in the next 10 years. Read more.
Hailing from a farming family, Rajesh Ranjan quit his job to use technology to make farming transparent and efficient, and connect them with the right people.
In 2019, he got together with Avinash Kumar and Manish Agrawal to start Krishify — a Gurugram-based startup that connects farmers to all agri stakeholders, including fellow farmers, traders, distributors, farm equipment sellers, cattle doctors, transportation service providers, etc. through a single, mobile-first, and vernacular platform. Read more.
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News & Updates
- Pfizer is in the final stages of an agreement with India to supply anti-COVID-19 vaccines, CEO Dr Albert Bourla said. He said that significant local manufacturing of vaccines that is happening at the Serum Institute of India will provide the backbone of vaccinating the Indian people.
- The Competition Commission of India (CCI) has ordered an antitrust probe against Google for breaching anti-competitive laws in the smart TV market. Google currently owns over 75 percent of the smart TV market in India.
- The income tax department said its new utility developed to help TDS deductors and TCS collectors identify non-filers or "specified persons" on whom a higher rate of taxes will be levied will help ease the compliance burden.
- The All India Council of Association of MSMEs (AICA) said steep hike in prices of raw materials such as steel, pig iron, copper, aluminium alloy, etc, are adding to the woes of the sector. AICA consists of about 170 MSME Associations covering more than 2,00,000 MSME industries.
- FM Nirmala Sitharaman asked Infosys to fix all issues on the new Income Tax portal immediately, while the software major said at least five technical glitches, including viewing past ITRs and e-proceedings, are expected to be resolved within a week.
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