Total amount raised
₹330 Millions
Latest funding date
07/01/2023
Location
Freakins has successfully raised funding over multiple rounds, attracting a diverse group of investors. The brand specializes in stylish and fashionable denim apparel for all, offering a wide range of products from jeans to jackets.
Keep reading to explore the intricacies of Freakins' fundraising journey and the investors backing this innovative platform.
What Is Freakins?
Freakins is a brand that specializes in stylish and fashionable denim apparel for both men and women. They offer a wide range of products, including jeans, skirts, tops, and jackets. The company is based in Mumbai, Maharashtra.
Unfortunately, the founding year and the names of the founders are not available from the provided sources. Additionally, the number of employees is not mentioned on the company website.
Despite the lack of specific details about its founding and team, Freakins continues to make a mark in the fashion industry with its diverse denim collections and influencer collaborations.
How Much Funding Has Freakins Raised?
- Seed Round
- Amount Raised: $4 million
- Date: July 5, 2023
- Lead Investors: Matrix Partners India, Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds will be used to expand the brand's omnichannel presence, strengthen operations, and increase brand awareness among consumers. Additionally, the company aims to enhance its supply chain capabilities, expand geographically, invest in talent, and launch new SKUs.
Total Amount Raised: $4 million. Current Valuation: Not publicly disclosed.
Key Investors
- Matrix Partners India
- Details: Matrix Partners India is a venture capital firm that invests in early-stage companies across various sectors in India. They recently closed their India-dedicated fund at $550 million.
- Investment Focus Areas: Consumer technology, enterprise technology, financial services.
- Notable Investments: Ola, Practo, Quikr.
- Blume Ventures
- Details: Blume Ventures is an early-stage venture capital firm that backs startups in India. They recently announced the first close of their new opportunity fund, Fund 1Y, raising Rs 200 crore ($25 million).
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Unacademy, Dunzo, HealthifyMe.
- Revant Bhate (Mosaic Wellness)
- Details: Revant Bhate is the co-founder of Mosaic Wellness, a health and wellness startup. He has been an active angel investor in various health and wellness ventures.
- Investment Focus Areas: Health and wellness startups.
- Notable Investments: Not specified in the sources.
- Navin Agarwal (Sonal Apparels)
- Details: Navin Agarwal is associated with Sonal Apparels, a company in the apparel and fashion industry. He has participated in several investment rounds for fashion startups.
- Investment Focus Areas: Apparel and fashion industry.
- Notable Investments: Not specified in the sources.
- Chakradhar Gade (Country Delight)
- Details: Chakradhar Gade is the co-founder of Country Delight, a consumer goods and dairy products company. He has invested in various consumer-focused startups.
- Investment Focus Areas: Consumer goods, dairy products.
- Notable Investments: Not specified in the sources.
Disclosed Valuation: Not publicly disclosed.
What's Next for Freakins?
Freakins is poised to capitalize on the burgeoning denim market in India, which is projected to grow at a 25% CAGR over the next five years. The brand plans to expand its omnichannel presence, strengthen operations, and enhance supply chain capabilities. Collaborations with creators for exclusive collections and entry into new categories like knitted and woven apparel are also on the horizon.
Given the significant market potential, future fundraising rounds seem likely. The recent $4 million seed round led by Matrix Partners India and Blume Ventures sets a strong foundation for further investment. However, challenges such as intense competition, maintaining quality while scaling, and adapting to rapidly changing consumer preferences could pose hurdles along the way.
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