Freakins, a home-grown denim fashion brand for Gen Z women, has raised $4 million in a seed round led by Matrix Partners India and Blume Ventures.
The company also raised capital from over 30 angel investors like Revant Bhate (Mosaic Wellness), Navin Agarwal (Sonal Apparels), Chakradhar Gade (Country Delight), Utkrishta Kumar (Meesho), Asish Mohapatra (OfBusiness) and prominent influencers like Aayush Wadhwa, Tarini Shah and Agastya Shah.
The D2C brand will use the funds to expand its omnichannel presence, strengthen operations and amplify salience amongst its consumers, Freakins said in a press statement. With a strong focus on partnerships with creators, it also plans to launch exclusive collections designed to cater to the likes of our consumers.
Founded by Puneet Sehgal and Shaan Shah, Freakins boasts of an extensive line-up of over 1,500 styles, featuring trendy fits, washes and rips that cater to diverse body types, preferences, and occasions.
Mumbai-based Freakins claims to have over 35 categories and all styles are designed and manufactured in-house, and products are sold through direct-to-consumer channels and marketplaces.
Matrix announced its India dedicated fund in June last year and made a final close at $550 million. The new fund has backed Scapia, Genwise, Saveo, Murf AI, XimKart, ZippMat, among others. Blume Ventures recently announced the first close of its new opportunity fund, Fund 1Y. This is Blume’s third growth fund, and it has already raised Rs 200 crore ($25 million) of the Rs 400 crore ($50 million) target.
