Accel Partners leads funding round in Universal Sportsbiz

Celebrity fashion firm Universal Sportsbiz Pvt. Ltd has secured $13.5 million in a Series E round of funding led by existing investor Accel Partners. The Sachin Tendulkar-backed company raised the money at a post-money valuation of $160 million, a press statement said. The funding round also saw participation from venture debt firm Alteria Capital Advisors, which made an equity investment of $1 million in the company. Universal Sportsbiz will use the funds to accelerate growth and spread its offline retail network across key markets in the country. The company plans to enhance its presence across its portfolio of fashion brands, which that include Wrogn, Imara and Ms.Taken, to more than 1,300 stores across India in the next two years. It currently has a presence in 305 stores. In March, Universal Sportsbiz had raised Rs 30 crore ($4.6 million) in debt-funding from Alteria Capital. Last November, it had raised $15 million (Rs 100 crore) from Accel Partners at a post-money valuation of over $100 million.