Premium Indian lingerie brand MHYTH has raised its Angel Round of funding, reaching a valuation exceeding $1 million within a month of its launch. The brand, founded by Mitali Rai, aims to establish itself as a competitor in the global premium fashion lifestyle market.
MHYTH plans to focus on innovative design and Indian craftsmanship as it expands. Mitali Rai, Founder and CEO, 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, emphasised the brand’s focus on quality and inclusivity “At MHYTH, we are dedicated to crafting premium designs and achieving the perfect fit with uncompromising quality. 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.”
The Angel Round was led by Sandeep Daga, Founder and MD of Nine Rivers Capital, and Snehal Shah, a private equity investor. Daga expressed confidence in the brand’s potential: “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.”
MHYTH’s product line includes lingerie, bodysuits, nightwear, and shapewear. The brand positions itself as a blend of Indian craftsmanship and modern design, aiming to create an “India to the world” narrative in the premium lingerie market.
