Total amount raised
$71.7 Millions
Latest funding date
10/1/2024
Location
Wrogn has successfully raised $9 million from Aditya Birla Digital Fashion and secured an investment of INR 125 crore from Aditya Birla Group's TMRW Venture. The brand is a contemporary fashion label offering a variety of clothing and accessories.
Keep reading to explore the intricacies of Wrogn's fundraising journey and the investors backing this dynamic fashion brand.
What Is Wrogn?
Wrogn, founded in 2014 by Anjana Reddy and Vikram Reddy, is a youth-focused fashion brand based in Bengaluru, Karnataka, India. The brand offers a wide range of contemporary clothing and accessories, including casual wear, denim, shirts, t-shirts, jackets, and more.
With a workforce of 501-1000 employees, Wrogn has carved a niche in the fashion industry, particularly among the youth. The brand is known for its trendy designs and quality, making it a popular choice in India.
Endorsed by Indian cricketer Virat Kohli, Wrogn continues to expand its product portfolio and market presence, appealing to fashion-forward individuals looking for stylish and modern apparel.
How Much Funding Has Wrogn Raised?
- Series A
- Amount Raised: ₹172.5M
- Date: July 2012
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the brand and fund initial operations.
- Series B
- Amount Raised: ₹460M
- Date: July 2015
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and increase market presence.
- Venture Round
- Amount Raised: ₹1B
- Date: November 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance brand visibility.
- Debt Financing
- Amount Raised: $4.6M
- Date: March 2018
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage working capital and operational expenses.
- Series E
- Amount Raised: $13.5M
- Date: October 2018
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and market expansion.
- Series F
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Flipkart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen e-commerce capabilities.
- Debt Financing
- Amount Raised: ₹300M
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and expansion plans.
- Corporate Round
- Amount Raised: ₹1.3B
- Date: June 2024
- Lead Investors: TMRW
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand digital-first brand portfolio.
- Corporate Round
- Amount Raised: ₹750M
- Date: October 2024
- Lead Investors: TMRW
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and market expansion.
Total amount raised: $2.1B. Current valuation: Not publicly disclosed.
Key Investors
- TMRW
- Details: TMRW is a venture arm of the Aditya Birla Group, focusing on digital-first brands. They have significantly invested in Wrogn, including a ₹1.3B investment in June 2024 and a ₹750M investment in October 2024.
- Investment Focus Areas: Digital-first brands, fashion, retail.
- Notable Investments: Wrogn.
- Flipkart
- Details: Flipkart is one of India's leading e-commerce companies, offering a wide range of products from electronics to fashion. They invested in Wrogn during the Series F round in November 2020.
- Investment Focus Areas: E-commerce, technology, fashion.
- Notable Investments: Myntra, PhonePe, Wrogn.
- Accel
- Details: Accel is a global venture capital firm that invests in early-stage and growth-stage companies. They have been a consistent investor in Wrogn, leading multiple funding rounds including Series A, B, E, and the venture round.
- Investment Focus Areas: Technology, e-commerce, consumer products.
- Notable Investments: Facebook, Flipkart, Wrogn.
- Alteria Capital
- Details: Alteria Capital is a venture debt fund that provides financing solutions to high-growth startups. They participated in Wrogn's debt financing round in March 2018.
- Investment Focus Areas: Technology, consumer brands, healthcare.
- Notable Investments: Dunzo, Lendingkart, Wrogn.
- Aditya Birla Digital Fashion Ventures Ltd. (ABDFVL)
- Details: ABDFVL is a subsidiary of the Aditya Birla Group, focusing on digital-first fashion brands. They increased their stake in Wrogn to 32.84% with an additional ₹75 crore investment.
- Investment Focus Areas: Digital-first brands, fashion, retail.
- Notable Investments: Wrogn.
What's Next for Wrogn?
Wrogn's future looks promising with the recent Rs 75 crore investment from Aditya Birla Digital Fashion Ventures Ltd. This strategic partnership is set to enhance Wrogn's market share and brand visibility, leveraging the growing trend of digital-first fashion brands. The fresh funds will enable Wrogn to expand its manufacturing, marketing, and distribution capabilities, positioning it well for significant growth.
Future fundraising opportunities appear bright, especially with Aditya Birla Fashion and Retail's recent approval to raise up to Rs 500 crore via non-convertible debentures. This indicates a strong potential for further investments to fuel Wrogn's expansion. However, challenges such as declining revenue and competitive pressures in the fashion industry remain. Addressing these issues will be crucial for Wrogn to sustain its growth trajectory.
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