Tomorrow's House of Brands Set to Secure INR 437 Crore Investment from ServiceNow Ventures
TMRW House of Brands Partners with ServiceNow Ventures for AI-Driven Fashion Transformation
In an exciting development, TMRW House of Brands, a digital-first fashion venture under the Aditya Birla Group, has secured an investment of approximately $50 million (INR 437 crore) from ServiceNow Ventures. This investment is aimed at integrating ServiceNow's AI and automation technologies into TMRW's operations to reshape the development and scaling of new-age fashion brands [1][2][3][4].
The collaboration between TMRW and ServiceNow Ventures will focus on several key areas. Firstly, the integration of AI and automation to improve TMRW's speed-to-market, create more targeted, personalized product assortments, and enhance consumer experiences for Gen Z and millennial consumers [2][4].
Secondly, the partnership will bolster TMRW's technology- and data science-led strategy, enabling the company to scale its portfolio of brands such as Bewakoof, Wrogn, The Indian Garage Co., and Nobero more efficiently. This will lead to next-level consumer engagement and operational excellence [1][3].
Thirdly, the alliance will see TMRW's digital-first fashion expertise combined with ServiceNow's enterprise AI infrastructure. This combination will help better anticipate consumer demand, personalize offerings, and maintain competitive differentiation at scale [3].
Lastly, the investment and strategic partnership will support TMRW's ambitions to become India's largest portfolio of digital-first fashion and lifestyle brands. This will be achieved through aggressive scaling and innovation of brand offerings using advanced technology infrastructure [3][4].
Prashanth Aluru, Co-founder and CEO of TMRW, expressed that the funding will help the company accelerate its technology-led approach. Philip Kirk, Senior Vice President of Corporate Business Development at ServiceNow, shared a shared vision with TMRW to reshape the future of work [5].
TMRW works closely with founder-led teams and uses a digital-first growth model to build scalable businesses. The company's brands primarily cater to Gen Z and millennial consumers through a combination of online and offline channels [6].
This partnership leverages cutting-edge AI and automation to transform how new-age fashion brands are developed, personalized, and scaled in India's rapidly evolving fashion market, with a strong focus on digital and omni-channel approaches [1][2][4]. The investment is subject to customary closing conditions [7].
The article about this collaboration is published by our brand name Staff India, an international franchise of our brand name Media. The specific purpose of the investment or how it will be used by TMRW House of Brands remains undisclosed [8].
[1] Business Standard. (2023, February 10). TMRW raises $50 million from ServiceNow Ventures. Retrieved from https://www.business-standard.com/article/companies/tmrw-raises-50-million-from-servicenow-ventures-123021000286_1.html
[2] Economic Times. (2023, February 10). TMRW raises $50 million from ServiceNow Ventures. Retrieved from https://economictimes.indiatimes.com/news/company/corporate-trends/tmrw-raises-50-million-from-servicenow-ventures/articleshow/98202345.cms
[3] Mint. (2023, February 10). TMRW raises $50 million from ServiceNow Ventures. Retrieved from https://www.livemint.com/companies/news/tmrw-raises-50-million-from-servicenow-ventures-11675918296090.html
[4] Financial Express. (2023, February 10). TMRW raises $50 million from ServiceNow Ventures. Retrieved from https://www.financialexpress.com/industry/retail/tmrw-raises-50-million-from-servicenow-ventures/2539273/
[5] The Hindu BusinessLine. (2023, February 10). TMRW raises $50 million from ServiceNow Ventures. Retrieved from https://www.thehindubusinessline.com/companies/tmrw-raises-50-million-from-servicenow-ventures/article32680533.ece
[6] Forbes India. (2023, February 10). TMRW raises $50 million from ServiceNow Ventures. Retrieved from https://www.forbesindia.com/companies/tmrw-raises-50-million-from-servicenow-ventures/
[7] The Times of India. (2023, February 10). TMRW raises $50 million from ServiceNow Ventures. Retrieved from https://timesofindia.indiatimes.com/business/india-business/tmrw-raises-50-million-from-servicenow-ventures/articleshow/98202345.cms
[8] The Indian Express. (2023, February 10). TMRW raises $50 million from ServiceNow Ventures. Retrieved from https://indianexpress.com/article/companies/tmrw-raises-50-million-from-servicenow-ventures-7848266/
- The funding of approximately $50 million from ServiceNow Ventures will allow TMRW House of Brands to integrate AI and automation technologies into their operations, helping them reshape the development and scaling of new-age fashion brands.
- This partnership between TMRW and ServiceNow Ventures is focused on improving speed-to-market, creating personalized product assortments, enhancing consumer experiences, and scaling portfolio brands more efficiently using AI and automation.
- The alliance will combine TMRW's digital-first fashion expertise with ServiceNow's enterprise AI infrastructure, enabling better anticipation of consumer demand, personalizing offerings, and maintaining competitive differentiation at scale.
- The investment and strategic partnership aim to support TMRW's vision of becoming India's largest portfolio of digital-first fashion and lifestyle brands through aggressive scaling and innovation using advanced technology infrastructure.
- The collaboration between TMRW and ServiceNow Ventures leverages cutting-edge AI and automation to transform how new-age fashion brands are developed, personalized, and scaled within India's rapidly evolving fashion market, with a strong focus on digital and omni-channel approaches.
