Mensa Brands acquired Myfitness which is a D2C firm devoted to delivering food products that are tasty and healthy has reported its EBITDA ratio as positive for FY23-24. The fitness-focused brand has claimed to generate gross revenue of around ₹225Cr in the recently concluded financial year.
Advertising itself as a peanut butter brand as of now the Bengaluru-based startup has now started widening its range by adding more healthier food options to its catalog. The company aims to become a full-fledged sports nutrition brand.
Founded in 2016 by Mohammad Patel, the brand currently has an employee size ranging between 50-100. The FMCG brand recently rolled out its variety of products such as Whey protein, oats, and muesli. After establishing itself in the Middle East Market , the company now aims to make its mark in US, world’s biggest market for peanut butter.
Financial Report
The D2C-modeled firm has a valuation of $6.2M as of January 2024. The total funding raised by the startup is $2.23 million over 2 rounds. The latest funding of $1.12M was done in seed round.
The firm reported a 16%YoY growth on annual revenue in FY23-24. The gross revenue in FY24 was $11.5M. The company’s net profit surged to ₹3.845Cr in FY22 from ₹3.07Cr in FY21.
The Bengaluru-headquartered firm revenue grew to ₹91.92Cr in FY21-22 from ₹73.88Cr in FY20-21. Mensa’s acquired MyFitness has been experiencing a combined annual growth revenue(CAGR) of 744% over the years. Mensa Brands aims to achieve annual revenue rate of ₹1000Cr from its acquisition, MyFitness.
MyFitness ultimate goal is to achieve a desirable flavor quality that its customers enjoy at affordable prices along with keeping its nutritional value intact.
