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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

August - 2012 - issue > Venture Beat

The 'Premium Basics' concept launcher, FREECULTR, raises $9 Million

SI Team
Monday, July 30, 2012
SI Team
Finding an immense potential and trajectory of the brand that FREECULTR, an e-commerce website offers, Russian venture firm, ru-Net, spearheaded by Internet entrepreneur and investor Leonid Boguslavsky, along with existing investor Sequoia Capital infused $9 million in series B round of funding. The fund will be used to expand operations and team, product development, expansion of new categories, and to explore numerous online and offline opportunities in India and aboard over the next 12 to 24 months.

Founded in 2011 by Harish Bahl, Sujal Shah, Sandeep Singh and Rajesh Narkar, the company had earlier raised over $4 million from Sequoia Capital. FREECULTR has rapidly expanded its presence and sales to customers across India, with deliveries at all states and territories within the first month.

Since its launch in less than seven months, the company has expanded across 40 categories with t-shirts, polos, shirts, flip flops, shorts, bags, jewellery and several other lifestyle ranges. FREECULTR currently attracts more than one million visitors a month to the site with continuing strong double digit growth. Sujal Shah, CEO and Co-Founder, FREECULTR says, "Our brand proposition has always been to offer premium quality, international styles and convenience at affordable prices, which has been very well received by our e-shoppers as seen by the large number of repeat purchases. With a focus on fabrics, product innovations, color options, and little details, the company is the users everyday lifestyle partner."

FREECULTR's success with product development and business execution led it to be selected by Shah Rukh Khan, Juhi Chawla, and Jay Mehta's IPL 5 Champion, Kolkata Knight Riders, as their Official Casual Wear Partner. It will continue to develop innovative and groundbreaking partnerships across numerous verticals.

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