Castore Nears £1 Billion Valuation After Cash Injection By Raine
- Financial backers also include Hanaco Ventures, Felix Capital
- British sportswear brand has come under fire for kit quality
The company said it will use the funding to improve its supply chain and data analytics capabilities, boost sales, and invest in staff and infrastructure.
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British premium sportswear brand Castore has secured a £145 million ($184 million) cash injection led by US investment bank Raine Group as it looks to challenge heavy hitters such as Nike Inc. and Adidas AG.
The funding round valued Castore, which already counts tennis star Andy Murray as a shareholder, at around £950 million, according to a person familiar with the deal.