Aditya Birla Group's TMRW secures Rs 437 Cr from ServiceNow Ventures
TMRW's revenue grew 38% in the first quarter of FY26, even as its losses widened by 37% to Rs 63 crore.
TMRW, a house-of-brands ventures backed by Aditya Birla Group, has raised Rs 437 crore from US-based ServiceNow Ventures to tap into the investor's agentic AI platform.
"ServiceNow’s Agentic AI and automation capabilities to power TMRW’s tech platform," Aditya Birla Fashion and Retail Limited said in a press release.
Meanwhile, TMRW has posted a 38% growth in revenue during the June quarter at Rs 197 crore, from Rs 143 crore last year. During the first quarter of FY26, its EBITDA margin deteriorated further and its losses widened by 36.95% to Rs 63 crore compared to a loss of Rs 46 in the corresponding quarter in the previous year.
TMRW has brands such as The Indian Garage Co, Bewakoof, Nobero and Virat Kohli's Wrogn in its portfolio. The company is focusing on scaling its own channels, including D2C and offline. Its offline footprint has expanded with brands now available at Rs 25 exclusive stores across 9 cities, excluding Wrogn in which TMRW owns about 33% stake.
On a consolidated basis, Aditya Birla Fashion and Retail posted a 9% growth in operating revenue in the June quarter at Rs 1,831 crore, while its net loss widened by 8% to Rs 233.7 crore.
Besides TMRW, Aditya Birla Fashion and Retail Ltd includes Pantaloons and Style Up, along with a host of designer-led brands of Sabyasachi, Shantnu & Nikhil, House of Masaba, and Tarun Tahiliani. Its portfolio also includes premium ethnic wear brands Jaypore, Tasva & TCNS.
In October last year, Aditya Birla Fashion and Retail increased its stake in Wrogn from 17.10% to 32.84% with an investment of Rs 75 crore. Wrogn's revenue was down about 30% in FY24 at Rs 243 crore, from Rs 344 crore in FY23.
Feature image: Prashanth Aluru, CEO & Co-Founder of TMRW
Edited by Swetha Kannan