- Sujata Sachdeva |
Online T-shirt design and sales platform Freecultr backed by Sequoia Capital has partnered Yash Raj Films. The tie-up would see the former offering merchandise inspired by the latter’s films. The company also retails its range through eight franchise-run stores.
The Gurgaon-based apparel and e-commerce website is also looking at raising funds to scale up its reach and operations. The platform allows consumers to log in and suggest their own designs and then the company creates merchandise based upon the designs.
With a reservoir of 40,000 designs and shipping one lakh units every month, the company aims to achieve a gross merchandise value of Rs 100 crores. Freecultr had earlier got funding worth 13 million dollars (over Rs 80 crores) from venture capitalists, four million dollars (Rs 25 crores) from Sequoia Capital as Series A in 2011, and then two million dollars (Rs 12 crores) from Sequoia and seven million dollars (Rs 44 crores) from Russian venture firm Ru-Net in July 2012 as Series B financing.