Home / Knowledge / News / Apparel/Garments / Accel invests $13.5 million in India's Universal Sportsbiz

Accel invests $13.5 million in India's Universal Sportsbiz

24
Oct '18
Accel invests $13.5 million in India
Universal Sportsbiz Pvt. Ltd has raised $13.5 million (₹100 crore) in a Series E funding round led by existing investor Accel Partners. Alteria Capital, which invested $4.6 million in debt in the Bengaluru-based company in March, also pumped in an additional $1 million as equity investment in the new round, the fashion start-up said in a statement.

The new round of investment values Universal Sportsbiz at $160 million (₹1,200 crore), up from $100 million last year, a news agency reported citing the statement.

The company has raised $13.5 million over five funding rounds till now. The funds will be utilised to expand its offline retail network across key markets and expand its brand portfolio while investing in technology.

Founded in 2012 by Anjana Reddy, Universal Sportsbiz has forged multiple partnerships with famous sports and movie personalities to co-create apparel brands, which are sold to customers via online and offline channels.

The company also plans to enhance its presence across its portfolio of fashion brands that include WROGN, a premier fashion brand inspired by Indian cricketer Virat Kohli, Bollywood actor Jacqueline Fernandez’s IMARA; and Ms.Taken, a western wear line in tie-up with Indian actor Kriti Sanon.

It aims at expanding to over 1,300 stores from 305 in the next two years. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

New EU rules for a fairer online economy apply from Jul 12

E-commerce | On 11th Jul 2020

New EU rules for a fairer online economy apply from Jul 12

The European Commission recently published a set of resources to help ...

Pic: Inditex

Retail | On 11th Jul 2020

Inditex to invest €2.7 billion for 2020-2022 plan

Inditex, a Spanish fashion retailer, has announced that to accelerate ...

Pic: Shutterstock

E-commerce | On 11th Jul 2020

ING Bank launches fashion marketplace in Romania

ING Bank, the fourth-largest bank by assets in Romania, launched its...

Interviews View All

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Textile industry, Head honchos

Textile industry
Head honchos

Quality should be the #1 priority

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Henk-Jan Rohaan,

Henk-Jan Rohaan

The custom-built machineries of Brugman Holland are known for reliability, ...

Ken Butts,

Ken Butts

The mission of Swiss company Datacolor is to empower its customers to make ...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search