Sequoia Capital has just confirmed seed funding of US $ 4Mn for the apparel e-com venture Freecultr.
Grabbing the first-mover advantage, Sequoia Capital chose to pump in a neat sum into this individual new brand created by Sujal Shah, Sandeep Singh and Rajesh Narkar with the backing of Smile Group. The firm plans to do everything from bottoms-up like, develop an in-house design team, build a seamless e-commerce platform and maintain inventory for products. The money will be also utilized to hire new talent.
Launched just two weeks, ago, the site appears very simple & the inventory seems stocked with very few choices.
Freecultr is an e-commerce site that sells its own brand of apparel and accessories. It is the first brand that has been launched & sold exclusively through online channel. Price range hovers at the “affordable” area from Rs 499 to Rs 2,000 plus. This is precisely the motto of the team, says Sujal Shah, CEO & co-founder, “We are integrating e-commerce and fashion to give our consumer the best value for money, choice and consistently updated product range”
Each of the co-founder brings with him over 15 Years of experience, with Mr. Shah in brand management and business execution, Mr. Singh in digital marketing at Quasar and was coincidentally part of its founding team. Mr. Narkar has tremendous exposure in developing products for some of the world’s leading brands.
With Fashionandyou (supported by Sequoia!), Fashos, 99Labels & many others offering premium brands at rock-bottom prices, will you buy stuff of this brand?
