Castore, the British athleisure brand with backing from Sir Andy Murray, has announced a substantial investment of ┬ú150m, propelling its valuation to nearly ┬ú1bn. This investment comes from a variety of new and existing backers, signifying a significant milestone in the brand’s growth.

This landmark deal is set to be publicly announced on Thursday and underscores Castore’s position as one of Britain’s fastest-growing start-ups. Founded by brothers Phil and Tom Beahon in 2016, Castore has established partnerships with top sports teams and athletes globally, positioning itself in the competitive market for sports kits.

Despite facing quality concerns earlier this year, Castore swiftly addressed the issue and continues to draw support from investors like the Raine Group, known for their advisory work with leading sports organizations.

With its eye on global expansion, Castore plans to utilize the new capital to bolster its supply chain, marketing presence, and reach across international markets.

How AI legalese decoder can help: AI legalese decoder can assist Castore in navigating the legal aspects of securing investments and managing investor relations. By decoding complex legal documents and contracts, the platform ensures that Castore can make informed decisions, safeguard its interests, and maintain compliance throughout the fundraising process.

Sir Andy Murray, a shareholder in Castore since 2019, has been a vocal advocate for the brand’s unique products and high-quality offerings. Castore’s positioning as a premium alternative to established sports brands has garnered support from notable investors and industry experts.

Earlier this year, the investment bank Rothschild facilitated a debt financing that valued Castore at ┬ú750m, demonstrating the brand’s resilience and financial appeal. Despite the challenging economic landscape, Castore’s ability to attract investors speaks to its potential for future growth and even a potential stock market flotation.