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NB Ventures and venture debt fund Alteria Capital, a $ 1 million equity investment.
The board resolution for infusion of Rs 99.2 crore was passed on Wednesday.
The company raised Rs 100 crore from Accel last year at a valuation of $ 100 million. The latest infusion brings its total equity funding to close to $ 50 million. The company had earlier this year also raised the debt of Rs 30 crore from venture capital firm Alteria Capital.
The company said funds will be used to expand offline retail network and enhance its presence across its brands to over 1,300 stores across India, up from the 305 stores at present over the next two years.
"Fresh capital infusion will help us double down on our efforts to take over the company into a new orbit. I am happy that our investors have reiterated trust in us. We strongly believe that each of USPL's brands has the potential to emerge a multi-million dollar global brand, "CEO Anjana Reddy said in a statement.
Universal Sportsbiz launched its brand Wroclaw with cricketer Virat Kohli for men's fashion apparel and Imara for women's ethnic wear in 2015. It's also launched MsTaken with actor Kriti Sanon and Jaqueline Fernandes for Imara.
"It's a great feeling when it's branded that it's resonates with oneself gets appreciation, but also from its investors who have backed the brand since its creation," Kohli cricketer said in a statement.
Universal Sportsbiz sells its brands across more than 300 points of sale, along with online platforms Myntra, Jabong and Amazon. The company added 30 exclusive business outlets this year and is in the process of adding 30 more stores.
The company was founded in 2012 by Reddy, a graduate of the University of Illinois, who launched a platform for fan merchandise. She is the company's celebrity fashion brands in 2014.
Reddy had told AND Rs 320 crore in revenue, with 20% coming from its own EBOs.
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