Mhyth, a premium lingerie lifestyle brand founded by Mitali Rai has raised its Angel Round of funding, achieving a valuation of over $1 million within a month of launching. The Angel Round was led by Sandeep Daga, Founder & MD of Nine Rivers Capital, and Snehal Shah, a seasoned private equity investor.
The funds raised will be used to expand into the premium fashion lifestyle space and aim to become a global name in the industry. The label also aims to promote individuality and inclusivity through its lingerie designs.
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.”
Commenting on the investment, 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.”
