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New Delhi, December 12, 2024 – MHYTH, a premium lingerie lifestyle brand founded by techie-turned-entrepreneur Mitali Rai, has successfully raised its Angel Round of funding, achieving a valuation of over a million USD within a month of launching. MHYTH, born in India, aims to set new global benchmarks in the premium fashion lifestyle space, competing with the world’s most renowned brands.
MHYTH embraces boldness by challenging conventions, empowering individuals to express their unique confidence through innovative designs that celebrate authenticity and style. MHYTH envisions on becoming a global name in the premium fashion lifestyle space.
Mitali Rai, Founder and CEO, stated: “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, shared: “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 Mr. Sandeep Daga, Founder & MD of Nine Rivers Capital, and Mr. Snehal Shah, a seasoned private equity investor. Commenting on the investment, Mr. Sandeep 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.”
Guided by a clear vision, MHYTH hopes to reform the narrative of Indian-origin brands on the global stage blending Indian craftsmanship with high-end designs and ever changing needs of the customers.
