Mukesh Bansal

Indian businessman
Mukesh Bansal
EducationBachelor of Technology
Alma materIndian Institute of Technology Kanpur
OccupationEntrepreneur
Known forMyntra

Flipkart

Cult.fit

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.

Early life and Education

Bansal was born in Haridwar, India.[3] 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][4] 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.[5] 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[6] and Vineet Saxena.[7] 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][6] In 2014, Myntra was acquired by Flipkart in a transaction valued at approximately $330 million.[8] Following the acquisition, Bansal took on the role of Head of Commerce and Advertising Business at Flipkart.[9]

Cure.Fit

Cure.Fit was founded in 2016 by Mukesh Bansal and Ankit Nagori[5] 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.[5]

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.[10]
  • 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.[11]

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.[12]

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.[13][14]

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.[15] The organisation is positioned within the Indian startup ecosystem as a platform for developing innovative ideas and nurturing emerging companies.[16]

Podcast

Bansal hosts the podcast "SparX," which explores "Big Ideas" across various fields, including economics, politics, science, and entrepreneurship.[17] The podcast features individual episodes where Bansal shares insights from his career and guest episodes with influential figures such as Ajeet Singh,[18] Sudha Murty[19] and Rahul Dravid.[20]

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.[21][22]

Books

  • Hacking Health: The Only Book You’ll Ever Need To Live a Healthier Life (2023)[23]

In "Hacking Health," Mukesh Bansal tackles the complexities of the health and wellness industry, offering clear guidance amidst the flood of fad diets, superfoods, and fitness trends. The book blends personal experience with scientific research to demystify health and wellness, debunk myths, and present actionable insights.

Mukesh explores various aspects of holistic health, including nutrition, fitness, sleep, immunity, mental health, ageing, and longevity. By integrating ancient wisdom with modern science, he helps readers make informed choices to enhance their overall well-being.

The book aims to answer whether scientific knowledge can be used to optimise the human body's performance, ultimately guiding readers to unlock their full health potential through a comprehensive, 360-degree approach.

  • No Limits: The Art and Science of High Performance (2020)[24]

In "No Limits," Mukesh Bansal explores the science and strategies behind human performance optimization. Drawing from his extensive experience as a tech entrepreneur and his studies on high performers in business, sports, and entertainment, Bansal reveals the power of brain plasticity—the brain's ability to rewire itself by developing new skills.

Mukesh emphasises that achieving high performance is not about genetics or luck but relies on deliberate practice, mindset, habit formation, willpower, and continuous learning. He integrates ancient wisdom with modern scientific validation, providing readers with actionable strategies to transcend limitations and maximise their potential.

"No Limits" serves as a comprehensive guide for anyone looking to enhance their abilities and perform at their best, regardless of their field. Through well-defined strategies and insights, Mukesh shows how anyone can become a superior version of themselves, constantly improving and reaching higher levels of performance.

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.[25]
  • 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.[26]

References

  1. ^ a b c "Mukesh Bansal: The Eternal Entrepreneur". Forbes India. Retrieved 2024-09-03.
  2. ^ a b c "Mukesh Bansal: The equity of fitness". www.fortuneindia.com. 2018-02-01. Retrieved 2024-09-03.
  3. ^ "Mukesh Bansal: The Eternal Entrepreneur". Forbes India. Retrieved 2024-09-03.
  4. ^ Mukesh Bansal, An approachable taskmaster. "Mukesh Bansal: An approachable taskmaster". BUSINESS LINE- THE HINDU.
  5. ^ a b c "The Business of Fashion". The Business of Fashion. 2016-02-11. Retrieved 2024-09-03.
  6. ^ a b "The secret behind Mukesh Bansal's success". Rediff. Retrieved 2024-09-03.
  7. ^ "The Story Of Myntra Founders : Mukesh Bansal". 2022-09-24. Retrieved 2024-09-03.
  8. ^ "Why Flipkart's Mukesh Bansal decided to call it quits". Business Today. 2016-02-11. Retrieved 2024-09-03.
  9. ^ "Here is why Mukesh Bansal quitting Flipkart is not really the news". Firstpost. 2016-02-12. Retrieved 2024-09-03.
  10. ^ "cure.fit launches new ready-to-eat product". Restaurant India. Retrieved 2024-09-03.
  11. ^ 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.
  12. ^ "Meraki Labs - Building what matters". www.merakilabs.com. Retrieved 2024-08-28.
  13. ^ www.ETHRWorld.com. "Gigforce secures $2 million from Meraki Labs - ETHRWorld". ETHRWorld.com. Retrieved 2024-09-03.
  14. ^ Banthia, Jyoti (2023-08-18). "Mukesh Bansal's new premium fashion venture eyes investment from Peak XV Partners, Accel". BusinessLine. Retrieved 2024-08-28.
  15. ^ Banthia, Jyoti (2023-08-18). "Mukesh Bansal's new premium fashion venture eyes investment from Peak XV Partners, Accel". BusinessLine. Retrieved 2024-08-28.
  16. ^ Banthia, Jyoti (2023-08-18). "Mukesh Bansal's new premium fashion venture eyes investment from Peak XV Partners, Accel". BusinessLine. Retrieved 2024-09-03.
  17. ^ "Sparx by Mukesh Bansal". Sparx by Mukesh Bansal. Retrieved 2024-09-03.
  18. ^ "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.
  19. ^ "'There's something wrong with my brain..' Sudha Murty makes stunning revelation". DNA India. Retrieved 2024-09-03.
  20. ^ "Lend me your ears: How startuppers became podcasters". The Times of India. 2023-10-08. ISSN 0971-8257. Retrieved 2024-09-03.
  21. ^ "Mukesh Bansal - Angel Investor Profile & Invested Startups Info | YNOS". YNOS Venture Engine. Retrieved 2024-09-03.
  22. ^ OGQ, Team (2018). "Team OGQ". olympicgoldquest.in.
  23. ^ "Hacking Health". Penguin Random House India. Retrieved 2024-08-29.
  24. ^ "No Limits". Penguin Random House India. Retrieved 2024-08-29.
  25. ^ "Mukesh Bansal - India's Young & Brightest Entrepreneurs in 40 Under 40 2014 - Fortune India". www.fortuneindia.com. Retrieved 2024-08-29.
  26. ^ "Mukesh Bansal". www.iitk.ac.in. Retrieved 2024-08-29.