Yoga-inspired athletic brand Yogasmoga has closed on its Series B round of financing.
The company didn’t disclose how much was raised or with which investors. Sources believe the latest raise is around $7 million to $8 million. Founded in 2010 by siblings Rishi and Tapasya Bali, the aggregate amount raised so far is reportedly in the $13 million range.
The company said the latest raise values the firm at $74 million.
Ravi Singh, a former Goldman Sachs partner who is on Yogasmoga’s board, said, “The valuation of Yogasmoga reflects the fast growth trajectory the company has achieved. This new raise gives the company financial bandwidth to expand its retail and operational footprint at a very rapid pace and be a strong contender in the category.”
Yogasmoga has a new store planned for this summer in the MGM Building on Dayton Way in Beverly Hills, Calif. The company said last year it was embarking on a retail footprint. It has two stores, one in Greenwich, Conn. and the other in the Brentwood community of Los Angeles. Both were opened last summer.