Accel leads $13.6m round for India's Universal Sportsbiz

Other participants included NB Ventures and Alteria Capital. The investment is said to value the company at about $160 million. The capital will be used to increase market penetration for existing portfolio of brands across both online and offline channels.

“With this fundraise, we want to focus on growth for our brand and bring in 1,000 points of sales in two years,” Anjana Reddy, CEO of USPL, told YourStory. “We strongly believe that each of USPL’s brands has the potential to emerge as a multi-million-dollar global brand, and with this investment, there is no looking back.”

USPL’s product lines are marketed under the name Collectabillia and include women’s ethnic fashion brand Imara, as well as a women’s Western-style brand called Ms Taken. The company also markets a men’s casual wear brand called Wrogn, which is curated by Virat Kohli, captain of the Indian national cricket team.

Accel led a INR1 billion round for the company last year at a valuation of $100 billion. The venture capital firm first invested the company in 2012 and re-upped in 2015 alongside venture lending firm InnoVen Capital India. Alteria, which also focuses on venture debt, participated in the latest round through an equity investment of $1 million.

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• Topics
• South Asia
• Consumer
• Expansion
• India
• Accel Partners
• manufacturing
• e-commerce