Mahesh Bhupathi-led, Swag Fashions Hub has obtained INR 20 crore funds from HNI (High-net-worth Individuals), according to a media report.
The apparel company was founded by the tennis player last year. It is mainly a brand management as well as licensing company which creates, develops and manages consumers brands which are led by celebrities, according to Lastaki Advisors statement. Lastaki Advisors are presently single investment banker which is associated with Swag. The advisory firm has not named the investment company.
Swag and the celebrities co-own most of the brands that the company is launching. The company has signed up with celebrities like cricketer Virat Kohli, and actors Lara Dutta, Disha Patani, Malaika Arora and Allu Arjun, the company said in its statement, as reported by the daily news, VC Circle.
This is the second startup in the line which is led by Bhupathi and has received funding. Previously, Scentials Beauty Care and Wellness received funds up to INR 25 crore in its Series A funding round. The company received funds from Unilever Ventures, a venture capital arm of consumer goods.