Premium lingerie brand MHYTH achieves $1M+ valuation within a month

New Delhi: Premium lingerie lifestyle brand MHYTH has successfully raised its Angel Round of funding, achieving a valuation of over a million USD within a month of launching. 

Founded by techie-turned-entrepreneur Mitali Rai, MHYTH said that it aims to set new global benchmarks in the premium fashion lifestyle space, competing with the world’s most renowned brands.

In a press statement, MHYTH said it embraces boldness by challenging conventions, empowering individuals to express their unique confidence through innovative designs that celebrate authenticity and style.

Founder and CEO Rai said, "Our mission is to create a brand that celebrates the individuality and femininity of women, empowering them to embrace their true selves. 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."

Vivek Mittal, COO and Founding Member, added, "At MHYTH, we are dedicated to crafting premium designs and achieving the perfect fit with uncompromising quality. We recognize that a one-size-fits-all approach doesn't work. 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."

The Angel Round was led by Sandeep Daga, Founder & MD of Nine Rivers Capital, and Snehal Shah, a seasoned private equity investor. 

Commenting on the investment, Daga said, "We believe in Mitali's vision to redefine the lingerie segment with a brand that prioritizes premium quality, inclusivity, and craftsmanship. MHYTH has the potential to emerge as a formidable player in this high-growth segment."