A new e-commerce start-up, Freecultr’s bid for developing a strong in house design team and a flawless e-commerce platform has got investment of $4Mn from Sequoia Capital. Freecultr is cofounded by Sujal Shah (former VP & Head of Fashion, India at IMG) along with Harish Bahl (Founder & Group CEO of The Smile Group), Sandeep Singh and Rajesh Narkar.
Speaking about the investment, Sujal Shah, CEO & co-founder of Freecultr, said to VC Circle, “We are integrating e-commerce and fashion to give our consumers best value for money, choice and consistently updated product range. The investment by Sequoia Capital is a strong endorsement of our business and will help us build a world class product range and brand.”
The firm plans to use the funding to develop an in-house design team and a seamless e-commerce platform, in addition to maintaining product inventory and acquiring new talents. FreeCultr provides lifestyle apparel and accessories featuring casual T-shirts, polos, tunics, sweaters, cardigans, denims, pants and footwears. The company plans to expand rapidly and will soon be available internationally
Shailendra Singh, managing director of Sequoia Capital said, “We believe India has a dearth of differentiated consumer brands in fashion and apparel space, and the Internet is becoming a viable channel for the launch of new brands. Freecultr is a new apparel brand, first launched on the Internet. And we liked the Freecultr brand positioning and strategy of focusing on “premium basics from the get-go.”
Earlier, in July 2011, SAIF Partners and angel investors including MakeMyTrip founder Deep Kalra invested $5.5 Mn in Zovi.com, the online apparel brand in India.
Category Investments News