Universal Sportsbiz (USPL), the parent of Bangalore based Collectabillia, an online store which sells sports fan merchandise, has raised $7.5 million (Rs 46 crore) in a Series B round of funding from existing investor Accel Partners, reports VCCircle.
USPL will use the funds for expansion into new markets as well as increase its two fashion labels’ network presence from 30 stores to 75 for Imara (Shraddha Kapoor) and 38 to to 70 stores for Wrogn (Virat Kohli). Collectabillia claims that it will tie up with 10 celebs and public figures for expansion and add talent for developing and sourcing designs for its fashion accessories. It will also set up 4-5 standalone stores, some of which will be owned by Collectabillia and some through franchises.
An ET report claims that post this funding, the company is valued at Rs 225 crore. The company had previously raised Rs 17.25 crore in funding from Accel in 2012. Before this funding, cricketer Sachin Tendulkar had also picked up a ‘significant’ minority stake for an undisclosed sum.
The company is promoted by former badminton player Anjana Reddy. It was founded in 2011, and during the IPL season in 2012, it launched an auction platform in a partnership with Sachin Tendulkar, to auction his limited edition merchandise. The company offers autographed memorabilia and fan merchandise from cricketers, footballers, tennis players, politicians, actors and Indian and international sportspersons. The company ships internationally and offers tshirts, mugs, frames, accessories, sports goods, mobile cases, bags etc. It also, interestingly, has some Dilwale Dulhania Le Jayenge signed collectibles.
-There’s Funatic, a company which sells sports inspired clothing and accessories, but is not official fan merchandise.
-Amazon also runs an ICC Cricket Store on its platform selling clothing, mobile covers, bags, accessories, posters, books, video games and headphones.