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Mukesh Bansal

Indian businessman

Mukesh Bansal (born September, 1975) is an Indian entrepreneur[1] known for his contributions to the e-commerce, health-tech, and startup ecosystems. He is the co-founder of Myntra, Cult.Fit,[2] and Meraki Labs, and has played a significant role in shaping India's tech and entrepreneurial landscape. Mukesh has been listed in the Best 40 under 40 Entrepreneurs by Fortune Magazine.

Mukesh Bansal
File:MukeshBansalStillImage.jpg
EducationBachelor of Technology
Alma materIndian Institute of Technology Kanpur
OccupationEntrepreneur
Known forMyntra

Flipkart

Cult.fit

Early life and Education

Bansal was born in Haridwar, India.[1] He completed his early education in Haridwar before pursuing a degree in Computer Science and Engineering at the Indian Institute of Technology Kanpur (IIT Kanpur).[1][3] His early interest in technology and entrepreneurship guided his career path in the tech industry.

Career

Early career

After graduating from IIT Kanpur, Bansal began his career as a system analyst with Deloitte in Chicago.[1] He later worked with several startups in Silicon Valley, including NexTag, Centrata, and NewScale.[4] These roles provided him with substantial experience and insights, which he later applied to his ventures in India.

Myntra

In 2007, Bansal co-founded Myntra with Ashutosh Lawania[5] and Vineet Saxena.[6] Initially, Myntra specialised in personalised gift items but shifted focus to fashion and lifestyle products.[2] Under Bansal's leadership, Myntra became a leading fashion e-commerce platform in India.[2][5] In 2014, Myntra was acquired by Flipkart in a transaction valued at approximately $330 million.[7] Following the acquisition, Bansal took on the role of Head of Commerce and Advertising Business at Flipkart.[8]

Cure.Fit

Cure.Fit was founded in 2016 by Mukesh Bansal and Ankit Nagori[4] with the goal of offering a comprehensive approach to health and fitness. The company provides services across multiple areas including fitness, nutrition, and mental well-being.[4]

Cure.Fit has developed several distinct services:

  • Cult.fit: A chain of fitness centres offering various workout programs.
  • Eat.fit: A service focused on delivering healthy meals.[9]
  • Mind.fit: Provides yoga and meditation sessions.
  • Care.fit: Offers primary healthcare services.

The company has attracted significant investment and has expanded its operations across India. Its business model integrates different aspects of health and wellness.[10]

Meraki Labs

Meraki Labs, co-founded by Mukesh Bansal in 2020, is described as India's first startup studio. The organisation focuses on supporting the development of new companies by providing initial funding and a founding team. It collaborates with founders to build startups from the ground up and offers initial funding ranging from $250K to $5M.[11]

Operating as a venture studio, Meraki Labs works closely with founders to identify market needs and develop new products. The studio has supported startups including Skyroot, Groww, Nextleap, Nushala, and Gigforce.[12][13]

In addition to financial support, Meraki Labs provides access to experienced entrepreneurs, leadership coaches, and a structured curriculum covering product development, branding, and fundraising. The studio also fosters a community of over 100 founders who share insights and support each other.

Meraki Labs has received backing from investors such as Peak XV Partners (formerly Sequoia India) and Accel.[13] The organisation is positioned within the Indian startup ecosystem as a platform for developing innovative ideas and nurturing emerging companies.[14]

Podcast

Bansal hosts the podcast "SparX," which explores "Big Ideas" across various fields, including economics, politics, science, and entrepreneurship.[15] The podcast features individual episodes where Bansal shares insights from his career and guest episodes with influential figures such as Ajeet Singh,[16] Sudha Murty[17] and Rahul Dravid.[18]

Olympics Gold Quest

Mukesh is also on the board of Olympics Gold Quest, a non-profit foundation that promotes efforts to support Indian athletes in winning Olympic Gold medals.[19][20]

Books

  • Hacking Health: The Only Book You’ll Ever Need To Live a Healthier Life (2023)[21]
  • No Limits: The Art and Science of High Performance (2020)[22]

Achievements and Recognition

Bansal has been recognized for his contributions to the industry:

  • Fortune India 40 Under 40: Featured in Fortune India’s list of 40 Under 40.[23]
  • Business Today’s Coolest Start-ups: Myntra was named one of Business Today’s Coolest Start-ups under his leadership.
  • IIT Kanpur Distinguished Alumnus Award (2021): Honoured with this award by IIT Kanpur.[24]

References

  1. ^ 1.0 1.1 1.2 1.3 "Mukesh Bansal: The Eternal Entrepreneur". Forbes India. Retrieved 2024-09-03.
  2. ^ 2.0 2.1 2.2 "Mukesh Bansal: The equity of fitness". www.fortuneindia.com. 2018-02-01. Retrieved 2024-09-03.
  3. ^ Mukesh Bansal, An approachable taskmaster. "Mukesh Bansal: An approachable taskmaster". BUSINESS LINE- THE HINDU.
  4. ^ 4.0 4.1 4.2 "The Business of Fashion". The Business of Fashion. 2016-02-11. Retrieved 2024-09-03.
  5. ^ 5.0 5.1 "The secret behind Mukesh Bansal's success". Rediff. Retrieved 2024-09-03.
  6. ^ "The Story Of Myntra Founders : Mukesh Bansal". 2022-09-24. Retrieved 2024-09-03.
  7. ^ "Why Flipkart's Mukesh Bansal decided to call it quits". Business Today. 2016-02-11. Retrieved 2024-09-03.
  8. ^ "Here is why Mukesh Bansal quitting Flipkart is not really the news". Firstpost. 2016-02-12. Retrieved 2024-09-03.
  9. ^ "cure.fit launches new ready-to-eat product". Restaurant India. Retrieved 2024-09-03.
  10. ^ Ashrafi, Md Salman (2024-02-26). "Exclusive: Tata Digital-backed Cult.fit tops up Series F with $10 Mn funding". Entrackr. Retrieved 2024-09-03.
  11. ^ "Meraki Labs - Building what matters". www.merakilabs.com. Retrieved 2024-08-28.
  12. ^ www.ETHRWorld.com. "Gigforce secures $2 million from Meraki Labs - ETHRWorld". ETHRWorld.com. Retrieved 2024-09-03.
  13. ^ 13.0 13.1 Banthia, Jyoti (2023-08-18). "Mukesh Bansal's new premium fashion venture eyes investment from Peak XV Partners, Accel". BusinessLine. Retrieved 2024-08-28.
  14. ^ Banthia, Jyoti (2023-08-18). "Mukesh Bansal's new premium fashion venture eyes investment from Peak XV Partners, Accel". BusinessLine. Retrieved 2024-09-03.
  15. ^ "Sparx by Mukesh Bansal". Sparx by Mukesh Bansal. Retrieved 2024-09-03.
  16. ^ "Meet Ajeet Singh, Muzaffarnagar-born IIT Kanpur alumnus who built two companies worth $10 billion in Silicon Valley". Business Today. 2023-11-27. Retrieved 2024-09-03.
  17. ^ "'There's something wrong with my brain..' Sudha Murty makes stunning revelation". DNA India. Retrieved 2024-09-03.
  18. ^ "Lend me your ears: How startuppers became podcasters". The Times of India. 2023-10-08. ISSN 0971-8257. Retrieved 2024-09-03.
  19. ^ "Mukesh Bansal - Angel Investor Profile & Invested Startups Info | YNOS". YNOS Venture Engine. Retrieved 2024-09-03.
  20. ^ OGQ, Team (2018). "Team OGQ". olympicgoldquest.in.
  21. ^ "Hacking Health". Penguin Random House India. Retrieved 2024-08-29.
  22. ^ "No Limits". Penguin Random House India. Retrieved 2024-08-29.
  23. ^ "Mukesh Bansal - India's Young & Brightest Entrepreneurs in 40 Under 40 2014 - Fortune India". www.fortuneindia.com. Retrieved 2024-08-29.
  24. ^ "Mukesh Bansal". www.iitk.ac.in. Retrieved 2024-08-29.
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