Accel invests Rs 1 bn in Sachin Tendulkar backed Universal Sportsbiz

With the latest round of funds, USPL plans to expand across key markets and increase its retail presence to 1,300 stores

Universal Sportsbiz (USPL), the owner of fashion brands Wrogn, Imara, and Ms. Taken, has raised fresh investment of Rs 1 billion ($13.5 million) from venture capital firm Accel Partners India, valuing the fast-fashion retailer at Rs 12 billion ($160 billion).

Alteria Capital Advisors, a Mumbai-headquartered investment firm, also invested Rs 65 million ($1 million) in this round.

Started by Anjana Reddy in 2012, USPL targets youngsters through its fashion apparel brands. The firm relies extensively on endorsement by sportsmen and celebrities who have become the face of its brands. Cricketer Sachin Tendulkar is also an investor in the company.

Together with Wrogn designed