FretBox raises Pre-Seed funding of 10 million INR from JSS STEP, India Accelerator, and Angel investors
New Delhi: FretBox, a Noida-based SaaS platform for hostels, has raised Pre-Seed funding of 10 million INR from JSS STEP, India Accelerator, and a group of angel investors. The funding will be used to fuel the company’s growth, expand its product offerings, and scale its operations.
FretBox is helping university & college hostels in the digital transformation of their campuses with help to upgrade security, communication, assistance, and fund collection tools.
FretBox has made student proof of presence simple, seamless, and at the fingertips of the warden, On the other side, it brings convenience to students to raise complaints, and leave requests, and stay tuned to hostel information 24*7.
With university & colleges as their customers, in the states of Delhi NCR, UP, Madhya Pradesh, Orissa, & Jharkhand FretBox is expanding fast and aim to target 50+ universities by Q2 2023-24.
“We are thrilled to have the support of JSS STEP, India Accelerator, and our angel investors as we continue to grow FretBox. Their network & investment allow us to expand our team, enhance our product offerings, and reach more customers around the world. We are excited to take the next step in our journey and make a positive impact on the residential experience of the education industry.” said Mr. Ashish Gupta, Founder, and CEO, FretBox.
JSS STEP is a startup accelerator that provides funding, mentorship, and resources to early-stage startups in India. The accelerator has a strong track record of supporting successful technology startups in healthcare, education, fin-tech, clean-tech, SaaS to name a few.
“Ashish is a hustler and we assessed their performance since the beginning of FretBox, FretBox for campus hostels is deemed to scale and make an impact on the residential experience of students,” said Dr.Divya Rajput, CEO of JSS STEP.
India Accelerator is a startup accelerator that provides funding, mentorship, and support to early-stage startups in India. The accelerator has a network of experienced mentors and investors who work closely with startups to help them grow and succeed.
“FretBox is building fast traction, and we like the speed of execution. We are committed to being a growth partner of team FretBox from here onwards” said Deepak Nagpal, Managing Partner at India Accelerator.
The funding round was led by JSS STEP and India Accelerator, with participation from a group of angel investors.