USPL raises 100 crore in new round of investment

The fashion start-up backed by celebrity cricket player Virat Kohli has raised 100 crore rupees (approximately 15 million dollars) in its latest round of investment.

USPL has raised 100 crore in a new round of investment - Ms Taken- Facebook

The capital was raised from the business’ existing investor, Accel Partners, and the fresh injection of funds has allowed the company to now be valued at over 665 crore rupees (approximately 100 million dollars). USPL have stated that they intend to use the money to continue to expand their product portfolio and their presence in both India and abroad.

“With this investment we will be able to accelerate our growth in this high potential, fashion retail space,” said Anjana Reddy, the Founder and Chief Executive of USPL. Mahendran Balachandran, a Partner at Accel Partners India, said about the investment: “We are delighted to support USPL’s future plans as they seek to maintain leadership position in India and expand globally.”

USPL, which is based in Bengaluru, owns the brands Ms. Taken, Imara, and Wrogn and, according to Reddy, “Each of these brands has the potential to emerge as [one of the] multi-million dollar globally recognised fashion brands.” The fresh round of investment will therefore be used to help USPL achieve this aim.

Universal Sportsbiz Private Limited was founded by Anjana Reddy in April 2012. The business operates from over 100 factories across India and runs retails outlets for their various fashion brands.

Copyright © 2018 All rights reserved.

Fashion - Ready-to-wearPeopleBusiness