E-commerce rollup platforms in India inspired by the famed Thrasio model have continued to mop up fresh investment. After raising $50 million in a mix of debt and equity round, Mensa Brands has closed another $33 million from four existing investors.
Alpha Wave Incubation (AWI) and Norwest co-led this new round with $11 million each whereas Accel has put in $10 million, Mensa Brands’ regulatory filings in Singapore show.
Singapore-based late-stage investment firm Gablehorn Investments has invested $1 million in the six-month-old venture. Bergwelt, which represents the co-founders along with a few others’ stake in Mensa Brands, has also participated in this round with $580K.
The fresh money has come at a time when Mensa Brands is in late-stage conversations to raise a large round from Tiger Global, according to two sources familiar with the talks.
