| In an attempt to power its aggressive expansion plans, Sachin Tendulkar-backed celebrity fashion lines company Universal Sportsbiz Private Limited (USPL) has raised Rs 8 crore from InnoVen Capital India (formerly known as SVB India Finance) in debt. Innoven Capital India is a start-up focused subsidiary of Singapore-based investment major Temasek Holdings.
“USPL is expected to use the debt for the planned brand building efforts and multimedia campaigns as the company pursues its aggressive growth plans,” the company said in a statement on Sunday. The debt raised by USPL follows the successful series B funding secured from existing investor Accel Partners. The total funds raised by USPL during the calendar year 2015 is Rs 61 crore through a combination of equity infusion and debt...............................................Full Article: Source
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