July 18, 2024
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TMRW House of Brands Invests ₹125 Crore in Wrogn to Drive Growth and Expansion

TMRW House of Brands, an Aditya Birla Group venture, has invested ₹125 crore in Wrogn, a youth fashion brand supported by Accel and Virat Kohli. According to Prashanth Aluru, Co-Founder and CEO of TMRW, this investment aims to drive Wrogn’s growth and market expansion while allowing small angel investors to exit. Both founders and Virat Kohli will remain involved. Aluru mentioned that the investment will primarily fund the company’s growth and involve a staggered buyout of investors over the next two to three years.

The plan is to transform Wrogn from a men’s casual wear leader to a comprehensive lifestyle brand. This includes enhancing direct-to-consumer (D2C) channels, scaling offline and omni-businesses, and expanding into new categories like women’s wear and teen apparel. Founded in 2014 by siblings Vikram and Anjana Reddy, Wrogn aims to reach ₹1,500 crore in revenue over the next five years through category expansion and D2C strategies. Anjana Reddy highlighted plans to open 500 stores across various market tiers in this period, leveraging TMRW’s expertise.

In a separate development, OrbitShift, an AI-powered sales intelligence startup, raised $7 million in seed funding led by Stellaris Venture Partners and Peak XV’s Surge program. Co-Founder and CEO Saurabh Mishra said the funds will expand their US presence and enhance their product portfolio, aiming to serve at least 50 clients within 12 months.

Additionally, Eka Mobility secured ₹200 crore from Mitsui & Co., part of a $100 million strategic partnership. Founder Sudhir Mehta stated the investment will support product development and market expansion, including new manufacturing facilities in Pune and Pithampur to cater to domestic and export markets.

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