SucSEED Indovation Fund backs FreeStand again in seed round of ₹3.3 crore!
FreeStand, a B2B marketing platform, has bagged $400,000 in a seed funding round led by Venture Catalysts and Nocking Point Advisors. IIM-Calcutta Innovation Park, SucSEED Indovation, and angel investors Guneet Singh and Varun Singh Hooda also participated in the round.
FreeStand’s capabilities extend across multiple channels like Ad-Networks, E-Commerce, and QuickCommerce. With the new capital, the company plans to expand its offerings to include event and retail sampling channels and leverage AI to enhance and simplify the product experience for FMCG marketers.
Founded by Konark Sharma, Sneh Soni and Kavach Chandra, FreeStand simplifies the process of executing product sampling campaigns for FMCG brands.
Konark Sharma, Co-Founder and CEO of FreeStand shared, “FreeStand’s tech supercharges what FMCG brands can accomplish with product sampling. Brands today can utilise the FreeStand platform to sample across multiple channels like Ad-Networks, E-Commerce and Quick Commerce, with the help of this capital we will be expanding our offering to include event and retail sampling channels. We will also be leveraging AI capabilities to enhance and further simplify our product experience for FMCG marketers.”
Sneh Soni, Co-Founder and Head of Business Operations at FreeStand further added, “Setting up a sampling campaign takes at least 20–30 days for an FMCG brand today, with the help of the FreeStand platform, brands are now able to find the right sampling channel/partner in less than 3 minutes. We’re excited to have the backing of Vcats, and Nocking Point in this round, and this capital will help us further expand our data and integrations with various sampling channel partners to enable FMCG brands to gain a greater ROI from their sampling campaigns.”
Kavach Chandra, CTO and Co-Founder at FreeStand said, “Sampling, today is one of the most effective ways of getting your product to the right consumer. Tech allows us to capture and encapsulate the scale of all that is possible with this marketing activity and with this capital, we will unlock new and higher levels of scale, bringing intelligence to the entire ecosystem of sampling for all the stakeholders involved.”
About SucSEED Indovation Fund — SucSEED Indovation Fund (SIF) is a SEBI regulated AIF Cat-1 Venture Capital Angel Fund with clear focus on early-stage tech seed initiative. General Partners of the Indovation Fund have 110+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 65+ startups. SIF attempts to support Indian Innovation for mass needs in the following Seven (7) sectors —
EdTech
FinTech
Health-tech
Security & RegTech
EnterpriseTech SaAS
Gaming Sports & MediaTech
Digital Economy & Emerging Tech opportunities.
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