Lingerie lifestyle brand Mhyth raises angel funding
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Mhyth, a lingerie lifestyle brand founded by techie-turned-entrepreneur Mitali Rai, has raised its angel round of funding, achieving a valuation of over a million dollars within a month of launching.
Mhyth, the company said in a release, born in India, aims to set new global benchmarks in the premium fashion lifestyle space, competing with the world’s most renowned brands.
Commenting on the development, Mitali Rai, founder and CEO stated: "While exploring international production capabilities to meet current demands, our long-term vision is to showcase Indian craftsmanship on a global stage by establishing a world-class, end-to-end manufacturing unit in India that competes with the best internationally."
The angel round was led by Sandeep Daga, founder & MD of Nine Rivers Capital, and Snehal Shah, a seasoned private equity investor.
“This funding will strengthen our research and development efforts, allowing us to innovate and tailor our offerings to meet the diverse needs of women both in India and globally, ensuring our products resonate across geographies," added Vivek Mittal, COO and founding member of the company.