1947 Tech 🇮🇳: 178
a house of DTC brands, becomes unicorn in just six months
1. India’s top startups make staff richer by $5 bn this year
Indian startups are giving their employees reason to cheer in the festive season. Ten companies, including Paytm, Oyo, Zomato, Nykaa and Pharmeasy that have either listed this year or are preparing to do so, have generated close to $5.2 billion for their workers through their employee stock option plans (Esop).
What a moment for the Indian tech ecosystem.
Early employees will leave to start companies.
Early employees will fund their friends and colleagues.
The ideas and the teams going after them would be much superior to what we have seen in the past.
2. India’s Mensa, a house of DTC brands, becomes unicorn in just six months
The speed at which the repeat founders / operators are executing is insane.
Mensa Brands, an Indian startup that acquires direct-to-consumer brands and helps them scale within the home market and overseas, has become a unicorn just six months after launching its business.
Falcon Edge Capital led Mensa Brands’ $135 million Series B financing round that values the Indian startup at over $1 billion, the two said Tuesday.
Prosus Ventures, as well as all existing investors including Tiger Global, Norwest Venture Partners and Accel also participated in the new round, pushing Mensa’s all-time raise to over $300 million in equity and debt.
Mensa Brands — founded by Ananth Narayanan, who previously served as the chief executive of fashion e-commerce giant Myntra that was eventually scooped by Flipkart — operates in the same space as Thrasio, the Boston-based startup widely credited with the success of this model.
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