Thursday 05 October, 2023

Freakins raises $4m seed round to grow denim brand

The India-based D2C firm offers over 1,500 styles on its platform.

Freakins founders Shaan Shah (left) and Puneet Sehgal / Photo credit: Freakins

India-based fashion brand Freakins has bagged US$4 million in its seed round led by Matrix Partners India and Blume Ventures.

Founded in 2021 by Shaan Shah and Puneet Sehgal, Freakins is a direct-to-consumer clothing brand that specializes in denim. The Gen Z-focused firm has built up a catalog of over 1,500 styles, which it says caters to different body types.

Funding details Funding amount: $4,000,000 Lead investors: Matrix Partners India, Blume Ventures Other investors: Revant Bhate, Navin Agarwal, Chakradhar Gade, Utkrishta Kumar, Asish Mohapatra, Aayush Wadhwa, Tarini Shah, Agastya Shah Stage: Seed Source

Freakins will use the fresh funds to expand to more markets, strengthen its team, and launch new styles. The firm also looks to strengthen its supply chain capabilities by partnering with factories that produce denim, knits, and woven fabrics.

India’s textile and apparel market is projected to have a compound annual growth rate of 14.59% in the next six years, set to reach US$387.3 billion in value by 2028.

See also: Shein’s rapid rise in Southeast Asia could topple ecommerce giants

More details Freakins→

The company was founded in 2021 by Shaan Shah and Puneet Seghal.

Stage Amount (US$) Investors Seed $4M Matrix Partners India, Agastya Shah, Utkrishta Kumar, Navin Agarwal, Tarini Shah, Chakradhar Gade, Revant Bhate, Blume Ventures, Aayush Wadhwa, Asish Mohapatra Total $4M

Shadine Taufik

Fan of all things AI and art.

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