VC Fund Investments
D2C denim brand Freakins get $4-M from Blume, Matrix Partners, others
Ahmedabad-based D2C (direct-to-consumer) denim fashion brand Freakins has raised USD 4 million (INR 33 crore) in its seed funding round led by Matrix Partners India and Blume Ventures. The funding round also saw participation from over 30 angel investors, including Revant Bhate of Mosaic Wellness, Utkrishta Kumar of Meesho, OfBusiness's Asish Mohapatra, and a few influencers. The company will deploy the fresh capital to build partnerships with factories specializing in denim, knits, and woven fabrics to bolster its supply chain capabilities. Freakins would also use the fresh funds to expand its omnichannel presence, strengthen operations by hiring new talent and launch new SKUs. Founded in 2019 by Puneet Sehgal and Shaan Shah, in partnership with Sachin Shah, Freakins started operating as a women-focussed denim brand. However, it entered the men's category in February this year. Besides its own website, Freakins also sells its denims through Amazon, Flipkart, and Myntra. Currently, the brand has products in over 35 categories. It generated gross revenues of INR 22-23 crore in FY23.
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