Mhyth Secures Angel Funding, Reaches $1Mn Valuation Within A Month Of Start

Mhyth, a lingerie brand founded by entrepreneur Mitali Rai, has raised its Angel Round of funding, securing a valuation of over USD 1 million just one month after its start. The brand aims to compete in the premium fashion lifestyle segment, with a focus on offering unique lingerie designs that appeal to women globally.

Commenting on the investment, Sandeep Daga, Founder and Managing Director of Nine Rivers Capital 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."

Founded by Rai, a tech entrepreneur turned business owner, Mhyth strives to offer lingerie that celebrates individuality and style. The brand plans to scale production through international manufacturing capabilities while also working to establish a manufacturing unit in India to showcase local craftsmanship.

Vivek Mittal, Chief Operating Ofiicer and Founding Member of Mhyth, highlighted that the funding will be directed toward research and development efforts to tailor the brand’s offerings to the diverse needs of women worldwide.

As Mhyth looks to expand globally, the brand aims to blend Indian craftsmanship with high-end designs while addressing the ever-evolving needs of its customers.