🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Accel and Virat Kohli-backed Wrogn raises Rs 125 crore in funding from TMRW
Economic Times
·
1y ago
Medial
TMRW House of Brands, a venture of Aditya Birla Group, has invested Rs 125 crore in Wrogn, a popular men's wear brand backed by Accel and Virat Kohli. Founded in 2014, Wrogn targets young men with casual clothing, footwear, and accessories. This investment brings TMRW's total support for Indian fashion brands to eight. Wrogn aims to achieve a revenue of Rs 1,500 crore in the next five years. TMRW's CEO, Prashanth Aluru, believes that with their expertise and technology-driven approach, they can elevate Wrogn to an iconic status.
View Source
1
Related News
WROGN raises $9 Mn from Aditya Birla Digital Fashion
Entrackr
·
9m ago
Medial
Men’s apparel brand WROGN has raised approximately Rs 75 crore (approximately $9 million) in funding from Aditya Birla Digital Fashion Ventures Ltd (ABDFVL), increasing ABDFVL’s stake in the D2C fashion brand from 17.10% to 32.84% on a fully diluted basis, as per a stock exchange filing. Earlier, in June this year, WROGN secured Rs 125 crore ($15 million) from TMRW House of Brands, an Aditya Birla Group company. This investment saw TMRW acquiring a 16% stake in WROGN, valuing the Bengaluru-based brand at around $105 million. Aditya Birla Group’s TMRW has now backed eight Indian fashion brands, including men’s casualwear brand The Indian Garage Co, casualwear Bewakoof, athleisure brand Nobero, children’s brand Nauti Nati, denim label Urbano, and casualwear brands JuneBerry and Veirdo. Founded in 2014 by siblings Anjana and Vikram Reddy, WROGN is a leading name in casual wear, offering a wide range of apparel, footwear, and accessories. Leveraging cricketer Virat Kohli’s influence, the brand has expanded its reach through exclusive brand outlets and partnerships with major e-commerce platforms. Since its inception, WROGN has raised approximately $90 million from investors like Accel, Flipkart, Virat Kohli, and Sachin Tendulkar. In November 2020, Flipkart invested an undisclosed amount in WROGN’s Series F round. Flipkart is also an investor in Hrithik Roshan’s HRX, which competes with WROGN. WROGN’s revenue from operations dropped by 29.2% to Rs 243.75 crore in FY24, down from Rs 344.3 crore in FY23. Despite implementing cost-cutting measures, the Virat Kohli-backed brand saw its losses up by 28.2%, reaching Rs 56.76 crore compared to Rs 44.26 crore in FY23, primarily due to a sharp decline in sales. According to a recent report by TMRW X Bain & Company, the fashion and lifestyle sector is India’s second-largest consumer category, valued at $110 billion, with online sales accounting for around $11 billion, or 10% of the market.
View Source
Aditya Birla Group’s TMRW Picks Up 16% Stake In Virat Kohli-Backed WROGN
Inc42
·
1y ago
Medial
Aditya Birla Group's fashion and lifestyle venture, TMRW, has acquired a 16% stake in Universal Sportsbiz Private Limited (USPL) for INR 125 Cr. USPL is the company behind the popular youth fashion brand, WROGN, which is backed by Virat Kohli and Accel. This minority investment includes the option for Aditya Birla Group to acquire a majority stake in USPL in the future.
View Source
Kohli-backed Wrogn secures ₹75 crore investment from Aditya Birla
Inshorts
·
9m ago
Medial
Cricketer Virat Kohli-backed apparel brand Wrogn has received an additional ₹75 crore investment from Aditya Birla Digital Fashion Ventures. With this, Aditya Birla's stake in the company has increased from 17.10% to 32.84% on a fully diluted basis. Wrogn's revenue fell to ₹243 crore in FY24 from ₹344 crore in FY23.
View Source
ETtech Deals Digest: Startup funding soars to $748.5 million this week
Economic Times
·
1y ago
Medial
Indian startups experienced a significant increase in funding, raising approximately $748.5 million in the third week of June. This surge was chiefly driven by Zepto, a quick-commerce company based in Mumbai, which secured $665 million in funding. Compared to the previous week, funding has almost multiplied eightfold, and it has almost quadrupled compared to the same period last year. Zepto's funding round alone accounted for around 89% of the total funding for the week. Other notable deals included EKA Mobility receiving a $23.9 million investment from Mitsui & Co and Wrogn receiving a Rs 125 crore investment from TMRW House of Brands.
View Source
Virat Kohli-backed WROGN’s revenue dips 29% in FY24
Entrackr
·
10m ago
Medial
Virat Kohli-backed men’s apparel brand WROGN’s parent company has been struggling to grow, as the company’s revenue dropped by over 29% in the fiscal year ending March 2024. At the same time, the firm’s losses surged by 28.2%, nearing the Rs 57 crore mark during the same period. WROGN’s revenue from operations dwindled 29.2% to Rs 243.75 crore during FY24 as compared to Rs 344.3 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. For background, WROGN reported a flat scale in FY23. The firm also generated Rs 21 crore from interest and gain on financial assets which took its overall revenue to Rs 264.8 crore in FY24. Founded in 2014 by brother-sister duo Anjana and Vikram Reddy, WROGN is engaged in the business of trading outdoor products such as apparel, footwear, and accessories among others. Leveraging Kohli’s influence, the brand has rapidly expanded its presence through exclusive brand outlets and strategic partnerships with marketplaces. On the expenses front, cost of materials formed 53.6% of the total expenses. This cost slid 29% and stood at Rs 163.91 crore in FY24. Employee benefits expenses also saw a dip by 7.5% to Rs 32.26 crore during the same period. Significantly, the employee cost also includes ESOP expenses worth Rs 1.96 crore. Commission paid to the selling agents was down by 28% in FY24 at Rs 30.83 crore while other expenses such as advertising promotions and legal & professional fees also shrank significantly. In total, the overall expenditure of the company went down by 24.7% to Rs 305.56 crore during FY24 from Rs 405.6 crore in the previous fiscal year. For the complete expense breakdown, head to TheKredible. WROGN tried to cover up its losses by taking cost-cutting measures but due to the sharp fall in collection, its losses increased by 28.2% to Rs 56.76 crore during the year against Rs 44.26 crore in FY23. Its operating cash outflows, however, improved by over 63% to Rs 5.23 crore during the year. Its outstanding swelled to Rs 636.58 crore as of FY24. As per TheKredible, the firm’s EBITDA margin and ROCE stood at -6.04% and -72.07%, respectively. On a unit level, WROGN spent Rs 1.25 to earn a rupee of operating revenue during FY24. FY23-FY24 FY23 FY24 EBITDA Margin -4.42% -6.04% Expense/₹ of Op Revenue ₹1.18 ₹1.25 ROCE -25.49% -72.07% Aditya Birla’s TMRW recently picked up a 16% stake in WROGN at a $105 million valuation by pouring in Rs 125 crore or $15 million. It’s worth noting that Aditya Birla also acquired a similar brand Bewakoof in December 2022. WROGN has raised around $90 million from the likes of Accel, Flipkart, Kohli, and Sachin Tendulkar since its inception in 2014. In November 2020, Flipkart invested an undisclosed amount in WROGN’s Series F round. The e-commerce major is also an investor in Hrithik Roshan’s HRX which competes with WROGN. According to TheKredible’s D2C report, fashion (apparel, jewelry, footwear, eyewear, and accessories) is the largest category attracting a large set of consumers. India’s fashion industry is booming, with the potential to reach $43.2 billion by 2025. But seeing how anaemic or even negative the numbers have been for most, one can only marvel at the outlier that a Zudio has been over the last two years with its triple-digit growth. Of course, the broader slowdown in the category has been blamed on multiple possible factors, including a craze for investment in the stock markets directly or indirectly. Or perhaps the prioritisation of getting an iPhone over other branded products, considering the rise in iPhone sales in India. Either way, WROGN’s numbers indicate a problem it has acknowledged for some time now, and is making efforts to manage. The challenge it faces is as tough as any pitch Kohli has played on, one suspects.
View Source
Virat Kohli acquires 1.94% in Agilitas Sports; Abhishek Sharma joins as investor
Entrackr
·
1m ago
Medial
Virat Kohli acquires 1.94% in Agilitas Sports; Abhishek Sharma joins as investor Indian cricketing icon Virat Kohli has invested Rs 40 crore (approximately $4.7 million) in Agilitas Sports, a sporting goods manufacturing company, as part of the first tranche of what is reportedly a larger funding round. This investment adds to Kohli’s growing startup portfolio, which already includes ventures like Rage Coffee, Digit Insurance, Mobile Premier League (MPL), and Wrogn, among several others. The board of Agilitas Sports allotted 3,61,611 class 2 CCPS at an issue price of Rs 1,106 each to raise the aforementioned amount, its regulatory filing accessed from Registrar of Companies (RoC) shows. In addition to this, the firm is also raising Rs 3 crore from SMLINE Ventures and Indian cricketer Abhishek Sharma, another filing shows. According to Entrackr’s estimates, the Bengaluru-based firm has been valued at Rs 2,058 crore (approximately $242 million) post money. Agilitas Sports has so far raised over Rs 600 crore to date, including a strategic investment of Rs 15 crore from Spring Marketing Capital in September last year. Following the latest infusion, Mauritius-based Infinity Direct Holdings has emerged as the largest shareholder in the company with a 37.73% stake, followed by Co-founder and CEO Abhishek Ganguly, who holds an 18.26% stake. Nexus Venture Partners owns 9.16%, while cricketers Virat Kohli and Yuvraj Singh hold 1.94% and 0.51% stakes, respectively. Founded in 2023 by ex-Puma India head Ganguly, Agilitas Sports follows an integrated model, combining manufacturing, brand licensing, and retail. It recently acquired Mochiko Shoes, which makes footwear for brands like Adidas and Puma. Agilitas is also building its own brands, including Lotto in India and Australia, and plans to expand through retail and a strong “Make in India” focus. Virat Kohli recently ended his Rs 110 crore endorsement deal with Puma India which began in 2017 and was reportedly valued at Rs 300 crore at the time of exit in 2025, to join Agilitas Sports. He is expected to not only serve as the brand ambassador but also play a role in the company’s business decisions.
View Source
Virat Kohli to end his 8-year deal with Puma
Livemint
·
1y ago
Medial
Indian cricketer Virat Kohli is set to end his 8-year deal with Puma India and become the brand ambassador for Agilitas Sports, according to a report. Agilitas Sports is a company founded by former Puma India managing director Abhishek Ganguly. Kohli will not only endorse the products of Agilitas Sports but is also expected to have a stake in the company. Agilitas Sports recently received a funding of ₹100 crore from Nexus Venture, indicating its growth in the sports industry.
View Source
Aditya Birla Digital Fashion Invests INR 75 Cr In WROGN
Inc42
·
9m ago
Medial
Aditya Birla Digital Fashion Ventures has acquired a higher stake in the direct-to-consumer (D2C) fashion brand, WROGN, increasing its ownership from 17.10% to 32.84%. This move will help Aditya Birla Digital Fashion to expand its collection of digital-first brands and diversify its brand portfolio. The investment follows a previous acquisition by Aditya Birla Group's fashion and lifestyle arm, TMRW, which acquired a 16% stake in the parent company of WROGN.
View Source
Insurtech startup Go Digit General Insurance gets SEBI's approval for IPO launch
IndianStartupNews
·
1y ago
Medial
Go Digit General Insurance, an Indian insurtech startup backed by Fairfax Group, has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). The IPO includes a fresh issuance of shares worth Rs 1,250 crore and an offer for sale of 10.94 crore shares by existing shareholders. Go Digit aims to strengthen its capital base, maintain solvency levels, and support general corporate purposes. The startup offers a wide range of insurance products and is known for being India's first cloud-based non-life insurer. Cricket star Virat Kohli and actor Anushka Sharma are among its notable investors.
View Source
Rupeek raises $15 Mn from Elevation; readies for secondary
Entrackr
·
1y ago
Medial
Online gold loan platform Rupeek has secured Rs 125 crore (approximately $15 million) in primary funding from Elevation Capital. This is the second tranche of the new round in which 360 One Large Fund had already put in $6 million during May. The board at Rupeek has passed a special resolution to issue 5,801 compulsory convertible preference shares at an issue price of Rs 2,15,467 each to raise Rs 125 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The Bengaluru-based firm appears to close this round at around Rs 250 crore, according to sources aware of the details of the funding. While Rupeek already raised Rs 175 crore ($21 million) from Elevation and 360 One Large Fund, the remaining Rs 75 crore ($9 million) is likely to come from Ranjan Pai’s investment office Claypond Capital, as per sources. “Sumit Maniyar along with employees and Rupeek’s early backer Bertelsmann may dilute around $8-10 million worth shares to Claypond Capital,” said one of the sources requesting anonymity. Queries sent to Maniyar didn’t elicit any response. The Binny Bansal-backed company has raised around $165 million to date. As per the startup data intelligence platform TheKredible, PeakXV was the largest external stakeholder followed by Accel and Bertelsmann as of the last tranche. 360 One Large Value Fund holds 2.44% of the firm before this tranche. Rupeek, which provides gold loans, has been struggling to scale and faced 60% erosion in its value. The company’s peak valuation stood at $634 million in January 2022 but its worth nosedived to $250 million in the ongoing round. Entrackr was first to report Rupeek’s down-round. The massive cut in valuation came on the back of Rupeek’s falling scale. Its revenue from operations declined 27.6% to Rs 89 crore in FY23 while the losses stood at Rs 281 crore in the same period. The company is yet to file its annual statements for FY24. The Sumit Maniyar-led firm directly competes with Oro Money, Ruptok, Yellow Metal, and to some extent with PayU-backed Indiagold.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in