Luxury Innerwear Brand MHYTH Raises INR 5 Crore in Pre-Seed Funding
Luxury innerwear, clothing and lifestyle brand MHYTH has raised INR 5 crore (~$600,000) in a pre-seed funding round backed by a Mumbai-based single-family office, led by businessman Mohammed Asief Khan. The round follows an earlier angel raise in December 2024 with participation from Mumbai-based Asset Management firm - Nine Rivers Capital.
Positioned at the intersection of fashion, function, and comfort, MHYTH is building a one-stop universe for premium innerwear and lifestyle, encompassing designer lingerie, shapewear, nightwear, resort wear, loungewear, dresses, and everyday essentials.
The brand is shaping an Asia/India-first luxury narrative while benchmarking itself against the likes of global giants such as Victoria's Secret, Hunkemöller, Savage X Fenty, Marks & Spencer, La Senza, Calvin Klein, Agent Provocateur, etc.
“At MHYTH, execution drives everything we do. We are building with a clear focus on global standards while addressing real consumer needs and gaps in the market.”- Mitali Rai, Founder & CEO
“Great brands are built on sharp positioning and consistent execution. MHYTH has both, and I’m backing Mitali to establish it as a powerful and recognizable name in the global premium space from India.”- Mohammed Asief Khan, Investor at MHYTH
Founded by Mitali Rai, MHYTH began operations in early 2025 across Bengaluru and New Delhi alongside COO Vivek Mittal, operating on an automation-led, asset-light model. Despite early co-building interest from semi-large conglomerates, the company has prioritised product excellence, the development of its India-based manufacturing ecosystem, and strong consumer alignment over accelerated scale in a category heavily and traditionally reliant on China and Europe.
With a low-inventory, high-rotation operating model, the brand is able to deliver globally competitive design, quality, and fit at more accessible price points, targeting aspirational consumers while laying the foundation for international growth.
