Mensa Brands Acquires Smart Wearable Brand Pebble

D2C unicorn Mensa Brands, backed by Alpha Wave Global, has acquired India-based consumer electronics brand Pebble. This is the company's debut deal in the smart wearables segment. This deal will strengthen its online footprint of Pebble and boost its marketing and branding efforts to become a household digital brand.

Talking about the deal, Ananth Narayanan, founder and chief executive officer of Mensa Brands, said, "In the fast-growing smart wearables segment, we believe Pebble stands apart as it combines fashion with technology. Our collaboration with Pebble will take it to wider audiences and geographies, scaling its business exponentially in the process."

Founded in 2013 by a father-daughter duo, Ajay and Komal Agarwal, Pebble started with power banks. Nine years later, the company has over 100 products across 8 product categories. It primarily sells headphones, chargers, tablets, power banks, wireless speakers, and smart wearables,

Explaining the motive behind the acquisition of Pebble, Komal Agarwal stated, "While maintaining our commitment to innovative at affordable prices, Mensa brands will provide us with digital brand-building capabilities to disrupt the global smart wearables market."

Pebble also exports to Bangladesh, Nepal, West Asia, and African nations like Saudi Arabia, Kenya, UAE, Qatar, and Tanzania. It competes with prominent names like Mivi, PTron, boAt, Noise, and Boult, among others.

Mensa Brands, founded only last year, follows a 'house of brands' strategy. According to it, the company acquires and partners with digital-first brands. The goal is always to accelerate growth by providing on-the-ground expertise and tech-led interventions in marketing and operations.

In Feb 2022, Mensa led a Series A round of $75 million funding for an Indian beauty brand RENEE Cosmetics. Mensa Brands co-invested with other venture capital funds, which doesn't happen often. Usually, Mensa Brands vies for a majority stake in any startup. It has added over dozen to date.

In January 2022, it made its 15th acquisition when it brought leather brand Estalon under its stable. Then it went after a home décor and kitchenware brand Folkulture. It also went after a denim brand High Star.

In November last year, Mensa also became the fastest Indian unicorn as it was a startup with a valuation of $1 billion after raising $135 million as a part of its latest series B funding round. The funding was led by Falcon Edge Capital's growth stage platform, Alpha Wave Ventures. Other notable investors of the company include Accel Partners, Norwest Venture Partners, Prosus, and Tiger Global Management.

Even names like Piramal Capital, Stride Ventures, Alteria Capital, InnoVen Capital, and TradeCredit have provided debt financing to the company. Mensa has raised more than $300 million in equity and debt in less than six months since its launch.

Mensa has 700 employees in India spread across Mumbai, Bengaluru, and Gurugram and plans to hire 700 more this year. The key entrants in the thrasio-styled business model category include FirstCry-backed GlobalBees, Powerhouse91, Upscalio, Fireside-backed 10Club, and Evenflow.

What do you think of Mensa's acquisition of Pebble? Let us know in the comments below.



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