Private Equity

PE-VC Fund Investments

Aditya Birla Group's fashion venture TMRW raises Rs.437-Cr from ServiceNow Ventures

Mint  

TMRW House of Brands, an Aditya Birla Group venture, has raised INR 437 crore from ServiceNow Ventures (the investment arm of US-based software firm ServiceNow). The proceeds will be used by the firm to expand its fashion portfolio across its omni-channel footprint. Launched in 2022, TMRW 's portfolio includes Bewakoof, Virat Kohli's Wrogn, The Indian Garage Co. and Nobero, which cater to millennial and Gen Z audiences. TMRW's topline grew nearly 38% to INR 197 crore in the April-June quarter, helped by higher margins in the segment along with e-commerce sales growing by 28%. The company reported an EBITDA level loss of INR 63 crore, against a loss of INR 46 crore last year. The firm expanded its offline presence to reach 25 stores across 9 cities.

Between Oct 2022 and May 2024, Shivalik Small Finance Bank had attracted about USD 33 M from Accel India, Lightspeed Ventures, Quona Capital, Sorin Investments and others.