Freakins, a denim fashion brand, raised USD 4 million in a seed round led by Matrix Partners India and Blume Ventures. The brand will use the funds to expand its omnichannel presence and strengthen operations. Over 30 angel investors, including prominent influencers, have invested in the startup.
The company plans to forge partnerships with fabric factories to bolster its supply chain capabilities. It aims to expand its presence in other geographies and invest in quality talent. The brand intends to launch new SKUs and exclusive collections designed for its consumers.
Strategies to Deploy Funds
Furthermore, funds will be strategically deployed to enhance the brand’s supply chain and operations. In addition, partnerships with creators will be a key focus for Freakins.
Moreover, the company aims to cater to the preferences of its consumers through exclusive collections. Additionally, the startup has secured capital from a diverse group of angel investors and influencers.
Additionally, the startup plans to strengthen its supply chain by partnering with specialized factories. Furthermore, the brand will use the funds to amplify its salience among consumers. Moreover, the startup will also invest in quality talent to support its growth.
Puneet Sehgal, Founder and CEO of Freakins
Puneet Sehgal expressed the brand’s goal of providing denim clothing suitable for diverse body types. Freakins’ distinctive approach has deeply connected with young people across the country. The raised funds will enable the brand to expand into additional product categories and improve its manufacturing capabilities. The startup aims to extend its distribution footprint and own the end-to-end process.
Additionally, the funding will enable the brand to expand its reach and meet growing demand. Moreover, it offers various forms of denim to appeal to the younger generation. It strives to stay ahead in the dynamic denim wear market.
The brand maintains exceptional quality control and achieves faster turnaround times. Freakins will adapt to changing consumer preferences by owning the entire process. Additionally, the denim wear market in India is projected to grow at a 25% compound annual growth rate.
Moreover, Freakins actively caters to the fashion-forward needs of the younger generation. Additionally, the brand ensures that consumers stay up-to-date with the latest trends in denim.
About the Brand Freakins
Freakins, founded in 2019, expanded into the men’s category in February. With leadership and supply chain experience from Hopscotch and Amazon, Puneet Sehgal co-founded the company. Shaan Shah, an marketing and consumer insights expert, co-founded the brand alongside Puneet Sehgal.
Their combined expertise, along with Sachin Shah’s proficiency in the denim industry, has contributed to the startup’s success. The brand quickly resonates with contemporary consumers due to their collective knowledge and experience.
The company’s entry into the men’s category solidifies its position as a new-age denim wear brand. Freakins has successfully established itself as a brand that appeals to Gen-Z consumers.
Rajat Agarwal, MD, Matrix Partners India
Rajat Agarwal, MD of Matrix Partners India, expressed their belief in the emergence of large consumer businesses in India. As the GDP per capita increases, a significant portion of income will be spent on discretionary consumption.
Moreover, apparels play a crucial role in discretionary spending, creating an opportunity for Freakins. Additionally, Matrix Partners India views Freakins as uniquely positioned to seize the fast fashion opportunity among Gen Z. The startup has demonstrated innovation in the supply chain, product design, and brand building through its influencer-led strategy.
Notably, Rajat Agarwal highlighted the brand’s unique approach and potential for market success. Matrix Partners India maintains confidence in its ability to thrive in the evolving consumer landscape.
The Denim Wear Market
The denim wear market in India will experience a projected 25% compound annual growth rate. Freakins actively caters to the fashion-forward needs of the younger generation. The brand ensures consumers stay up-to-date with the latest denim trends. It strives to cater to the evolving preferences of the younger generation.
