Bengaluru: Universal Sportsbiz, the Bengaluru based celebrity fashion and memorabilia company raises Rs.8 crore from InnoVen Capital – a Temasek subsidiary – taking the overall value of the company to Rs.61 crore. The company will utilize the funds to increase the efficiency of their growth plan and to build its brand platforms through multimedia campaigns. Earlier the company had raised Rs.17.25 crore and $7.5 million from Accel Partners in 2012 and 2015 respectively.
Founded in 2012 by Anjana Reddy, a sports enthusiast and a national level badminton player, Universal Sportsbiz enables the fans to own a memorabilia personally autographed by their celebrity icons. The India’s first celebrity-commerce company launched its auction platform during 2012 IPL season partnering with Sachin Tenduldar to exclusively auction the limited edition items. The company is currently planning to expand their distribution network from 30 stores to 75 stores for Imara and from 38 stores to 70 stores for WROGN. Besides Wrogn and Imara, the company’s portfolio of leading brands also includes Collectabillia, which provides sports and entertainment-based fashion accessories.
Universal Sportsbiz currently has 15-20 celebrities in its portfolio, both from the sports and entertainment segments, and works with sports icons such as Vishwanathan Anand, Vivian Richards, Harbhajan Singh, Muttiah Muralitharan, Sania Mirza and Saina Nehwal. It is also planning to add 10 more celebrities from the entertainment space.