Singapore based August Capital Partners (ACP) has invested undisclosed amount in Freshmonk. As a part of this investment, Alex Kumar, Director at ACP shall join the company’s board.
The first version of Freshmonk platform witnessed purchases by over 5,000 customers across 15 countries. According to the company, a non-profit organization, WidlifeSOS, rose over $2,200 in profit using the platform in a 10 day campaign.
Michael Blakey of Cub Capital and other angels also joined the Series A round of funding.
Freshmonk is a custom apparel design and fulfillment platform. It allows groups, communities, events and fundraisers the options to run limited-time online campaigns to collect pre-sales towards a goal. Incepted in western countries, founders, Shashank Agarwal and Prashant Gulati look forward to establish this model in Indian markets.
Prashant is a technology entrepreneur focused on the consumer apparel market. Prior to this venture, he found and managed a healthcare startup focused on medical tourism in India that earned $300K in revenue and two consumer internet startups in Silicon Valley while Shashank is a third generation entrepreneur with interests in consumer ecommerce, crowd-funding and platform businesses.
August Capital Partners is a Singapore based investment firm targeting early growth ventures. Recently US-based Indian Food Company Bandar Foods and Singapore-based online healthcare startup MyDoc rose funding led by ACP.
Recently MyDreamStore, a similar online venture launched by NIT Allahabad graduates, raised INR 2 Cr from a local infra developer. AlmaMater and SourceEasy are the other bigger players in this area.