Aditya Birla’s TMRW To Raise INR 437 Cr In External Funding

Aditya Birla Group’s house of brands venture TMRW is set to raise INR 437 Cr (about $50 Mn) in its maiden external funding round from software giant ServiceNow’s VC arm, ServiceNow Ventures. 

In a statement, TMRW said that the funding round will allow it to leverage ServiceNow’s platform as a service (PaaS) platform, ServiceNow AI Platform, to enhance its speed-to-market, provide dynamic and focussed assortments, and improve consumer experiences.

“ServiceNow’s agentic AI capabilities will augment our playbook for value creation, enabling us to leapfrog traditional fashion-industry value drivers and deliver next-gen consumer experiences to millions of consumers,” TMRW cofounder and CEO Prashanth Aluru said.

TMRW, which was launched under Aditya Birla Fashion & Retail (ABFRL) in 2022, is a digital-first roll-up platform that acquires stakes in fashion and lifestyle brands. 

At the outset, the company said that it would build a portfolio of 30 fashion and lifestyle brands by 2025 either through acquisitions or incubating the brands. As of now, the brand’s portfolio includes D2C startups Bewakoof, The Indian Garage Co., Wrogn, Urbano, Nobero, among others. 

The fundraise announcement was made along with the release of Q1 FY26 numbers of Aditya Birla Fashion & Retail. TMRW’s revenue grew 38% to INR 197 Cr during the quarter under review from INR 143 Cr in the year-ago period. However, its EBITDA loss also grew 37% YoY to INR 63 Cr.

TMRW also expanded its footprint during the June quarter, and the stores of its brands were present in nine cities at the end of the quarter.

Meanwhile, Aditya Birla Fashion & Retail’s revenue grew 9% YoY to INR 1,831 Cr in Q1 FY26. Its loss narrowed to INR 234 Cr from INR 238 Cr in the year-ago period. The company operates other fashion brands like Pantaloons, Galeries Lafayette Sabyasachi, Shantnu & Nikhil, House of Masaba, among others. 

TMRW is among the rollup ventures which were launched in the country over the past few years. However, the segment is plagued with problems. For instance, house of brands unicorn The Good Glamm Group is currently in the process of shutting shop.

Another house of brands unicorn, Mensa Brands, now known as BRND.ME, sold MensXP’s parent entity India Lifestyle Network (ILN) to the RPSG Group in June this year.