Mensa Brands, the new venture of former Myntra CEO Ananth Narayanan, has raised around $50 million in a mix of equity and debt in a Series A round led by Accel Partners, according to an Economic Times report.

The company is looking to build a house of consumer brands in India and has a similar model to that of US firm Thrasio, which acquires third-party brands that sell on Amazon and then attempts to supercharge their growth.

Mensa looks to acquire a majority stake in online-first DTC brands that are already profitable and then grows the businesses, finally buying out the remainder of each brand within three years.

Narayanan says Mensa’s goal is to invest in and acquire around 50 brands over the next three years, across categories such as beauty, apparel and personal care.