Analysis

Mensa Brands scripts unlikely turnaround, net sales up 4X to $160 million in FY23

Gaurav Tyagi

Pranav Balakrishnan

December 15, 2023 | 5 Min Read

Even as the global e-commerce aggregator story sours, Mensa Brands—the fastest Indian startup to turn unicorn—appears to be defying the odds. While investors have grown wary of the space, the company’s latest results are cause for optimism.

Earlier this week, The CapTable broke the news of e-commerce aggregator UpScalio being hauled to the National Company Law Tribunal (NCLT) by its lenders, Vivriti Capital and Northern Arc.

UpScalio’s struggles raised concerns that India’s e-commerce aggregator space could be on the brink of upheaval. This wouldn’t be too surprising given that the originators of this model—the likes of US-based Thrasio, for instance—are falling by the wayside.

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