Published
Oct 18, 2018
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Sachin Tendulkar's Universal Sportsbiz gains Rs 99.2 crore in investment

Published
Oct 18, 2018

The Sachin Tendulkar-backed business Universal Sportsbiz has raised Rs 99.2 crore ($14.9 million) in funding from previous investor Accel along with NB Ventures Ltd and Alteria Capital.

Universal Sportsbiz has raised Rs 99.2 crore in funding from previous investor Accel along with NB Ventures Ltd and Alteria Capital - Wrogn- Facebook


Accel and its Growth Fund along with NB Ventures Ltd and Alteria Capital have invested a total of Rs 99.2 crore in Universal Sportsbiz following a board resolution passed on October 17, according to regulatory filings sourced from paper.vc by ET Bureau. This investment is in addition to the Rs 100 crore invested by Accel in 2017 when the company was valued at $100 million.

The new infusion of funds brings Universal Sportsbiz’s total equity funding to almost $50 million. Earlier in 2018, the business also raised Rs 30 crore in debt funding from Alteria Capital.

Universal Sportsbiz is backed by the cricketer and celebrity Sachin Tendulkar and owns a number of sports apparel brands including Wrogn which it launched with cricketer Virat Kohli in 2015. Other apparel brands include the womenswear brands MsTaken and Imara. The business added 30 exclusive business outlets (EBOs) this year and has another 30 planned.

The business has reported that its revenue total increased by 75 percent in the 2017 fiscal year to Rs 107 crore from Rs 60 crore in the 2016 fiscal year.

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