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Mukesh Bansal

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Mukesh Bansal
CitizenshipIndian
EducationBachelor of Technology
Alma materIndian Institute of Technology Kanpur
Occupation(s)Entrepreneur, investor, author
Known forMyntra
Flipkart
Cure.fit
Notable workNo Limits
Hacking Health
AwardsIIT Kanpur Distinguished Alumnus Award
Fortune’s 40 Under 40 List

Mukesh Bansal is an Indian entrepreneur and author known for his contributions to digital commerce, wellness, and technology. A 1997 computer science graduate from IIT Kanpur, he began his career at Deloitte before moving to Silicon Valley in 1999, where he worked at Nextag, Centrata, and newScale, gaining expertise in technology and strategy.

In 2007, Mukesh founded Myntra, which grew into India’s leading online fashion platform and was later acquired by Flipkart, where he played a key role in strengthening its market position. In 2016, he co-founded Cure.fit, an integrated wellness platform with over 600 centers across 50 cities, promoting fitness, nutrition, and mental well-being.

In 2024, Mukesh launched Nurix AI, a company focused on generative AI solutions for enterprises. Through his venture studio, MerakiLabs, he has supported startups like Skyroot Aerospace, India’s first private rocket launcher, and Groww, a leading online brokerage platform. He was an early investor and advisor to both.

Mukesh has authored several books, including No Limits, Hacking Health,[1] and The Startup Code. He also hosts the popular podcast SparX and mentors entrepreneurs through his ELD program. Recognised with IIT Kanpur's Distinguished Alumnus Award and featured on Fortune’s 40 Under 40 list, Mukesh serves on the board of Olympic Gold Quest.

Early life and education

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Bansal was born in Haridwar, India.[2] 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).[2][3] His early interest in technology and entrepreneurship guided his career path in the tech industry.

Career

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Early career

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After graduating from IIT Kanpur, Bansal began his career as a system analyst with Deloitte in Chicago.[2] 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

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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.[7] Under Bansal's leadership, Myntra became a leading fashion e-commerce platform in India.[7][5] 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 - house of Cult

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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.[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

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MerakiLabs

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.[14] The organisation is positioned within the Indian startup ecosystem as a platform for developing innovative ideas and nurturing emerging companies.[14]

Podcast

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SparX by Mukesh Bansal

Mukesh runs a popular podcast SparX that explores ‘Big Ideas Shaping the World’ through engaging conversations with leading non-fiction authors, deep thinker-practitioners, visionaries, and experts, delivering profound insights across every domain.

At SparX, he dives into various topics of interest around economics, politics, history, science, entrepreneurship, AI, productivity, and the vast opportunities this nation holds.[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

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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

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  • 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

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Bansal has been recognised 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

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  1. ^ "Hacking Health". Penguin Random House India. Retrieved 2024-11-27.
  2. ^ a b c "Mukesh Bansal: The Eternal Entrepreneur". Forbes India. Retrieved 2024-09-03.
  3. ^ "Mukesh Bansal: An approachable taskmaster". The Hindu.
  4. ^ a b c "The Business of Fashion". The Business of Fashion. 2016-02-11. Retrieved 2024-09-03.
  5. ^ a b "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. ^ a b "Mukesh Bansal: The equity of fitness". www.fortuneindia.com. 2018-02-01. 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. ^ "Gigforce secures $2 million from Meraki Labs". ETHRWorld.com. Retrieved 2024-09-03.
  14. ^ a b c 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. ^ "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. ^ "Team OGQ". olympicgoldquest.in. 2018.
  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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