Mhyth raises angel funding at over $1 million valuation (#1685722)

Premium lingerie and lifestyle brand Mhyth has raised its angel funding round at a valuation of over $1 million, within only a month of launching. The business will use the funds to boost its research and development activities and further tailor its products to Indian consumer demands.

“Our mission is to create a brand that celebrates the individuality and femininity of women, empowering them to embrace their true selves,” said Mhyth’s founder and CEO Mitali Rai in a press release. “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.”
 
Mhyth’s angel funding round was led by Nine Rivers Capital’s founder and managing director Sandeep Daga and private equity investor Snehal Shah. “We believe in Mitali’s vision to redefine the lingerie segment with a brand that prioritises premium quality, inclusivity, and craftsmanship,” said Daga. “Mhyth has the potential to emerge as a formidable player in this high-growth segment.”
 
Mhyth aims to expand into the premium fashion lifestyle space and aims to become a global name in the industry. The label also aims to promote individuality and inclusivity through its lingerie designs.
 
“At Mhyth, we are dedicated to crafting premium designs and achieving the perfect fit with uncompromising quality,” said a Vivek Mittal, the brand’s COO and a founding member of the label. “We recognise 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.”