Sequoia Capital which has invested over 4 Million USD in ecommerce startup Freecultr. Sequoia Capital is the first investor and the investment will be used to develop a strong in house design team and a seamless e-commerce platform. The funds will also be utilized to maintain inventory for products and acquiring new talent.
Shailendra Singh, Managing Director, Sequoia Capital said, “We believe India has a dearth of differentiated consumer brands in fashion and apparel, 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. We liked the Freecultr brand positioning and strategy of focusing on “premium basics” from the get-go. We are excited to partner with Sujal, Sandeep and theteam and believe that their emphasis on product design, quality and affordable pricing will help Freecultr emerge as a favored lifestyle brand.”
Harish Bahl, Sujal Shah, Sandeep Singh, Rajesh Narkar are cofounders of Freecultr.
If you too are excited by the E-commerce opportunity in India, then register now to attend E-Sparks 2011 - India’s First E-commerce Startup Showcase, to be held tomorrow in Bangalore!