Mensa Brands acquires MyFitness

E-commerce roll up company Mensa Brands has acquired health food startup MyFitness for an undisclosed sum.

The transaction will help Mensa Brands launch new categories, ramp up its D2C portfolio, the company said in a press statement. Post-acquisition, it will also invest in MyFitness’ brand-building and expand it to overseas markets.

Founded in 2019 by Mohammad Patel and Rahil Virani, MyFitness makes peanut butter for fitness enthusiasts and sportspeople. The platform currently has more than 30 SKUs which includes a range of peanut butter, rice cake and vinegar with an average selling price of Rs 500. It was also the official snacking partner of IPL teams: Punjab Kings and Delhi Capitals.

Ananth Narayanan-led Mensa Brands claims to have registered a net revenue run rate of Rs 1,500 crore in the first 12 months of operations.

According to Mensa, it has acquired 22 brands so far in categories such as designer sarees, jewellery, men’s wear, smart devices and personal care. In the ongoing calendar year, the unicorn has acquired seven D2C brands such as Estalon, Florona, TrustBasket, Bey Bee, PrettyKrafts and Pebbles among others, according to data compiled by Fintrackr.

While Myfitness is yet to disclose its financials numbers for FY22, its scale surged to Rs 27.66 crore in FY21 from Rs 15 lakhs in FY20, as per the company’s annual financial statements with the Registrar of Companies (RoC). Importantly, the company recorded a profit of Rs 4.10 crore during the fiscal year.

Mensa Brands seems to be an intriguing startup with inspiring development on technology, information and internet platform. This startup would continue to prosper in the future. Wishing this startup good luck in all its future endeavors.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For Editorial/Rectification please email aditi@startuplanes.com