Universal Sportsbiz (USPL) raises 30 crore in new investment round

Universal Sportsbiz (USPL), the sportswear business backed by the former cricketer and celebrity Sachin Tendulkar, has received 30 crore rupees (approximately 4.5 million US dollars) in funding from Alteria Capital.

USPL (of Wrogn, pictured) has raised 30 crore in a new investment round - Wrogn- Facebook

The Mumbai-based venture debt firm Alteria Capital has invested 30 crore rupees in Tendulkar’s sportswear business USPL. Before its latest round of funding, the business research platform Paper.vc has reported that USPL had raised 363 crore rupees (approximately 54.6 million US dollars) from the venture capital fund Accel Partners and Dubai’s NB Ventures.

In November last year, USPL raised 100 crore rupees (approximately 15 million dollars) from Accel Partners in its previous round of funding. The business used that investment for continued product portfolio expansion, as well as retail expansion in India and abroad. In November, the business was valued at 665 crore rupees (approximately 100 million dollars) following the injection of funds.  

USPL has a number of sportswear brands in its portfolio including Wrogn, which is co-owned by another celebrity cricketer, Virat Kohli. Jacqueline Fernandez’s ethnic wear brand Imara and the Bollywood actress Kriti Sanon’s womenswear brand Ms. Taken are also part of USPL.

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 which are available across multi-brand e-commerce vendors.

Copyright © 2018 FashionNetwork.com All rights reserved.