New Delhi, NFAPost: FretBox, a Noida-based SaaS platform for hostels, has raised Pre-Seed funding of Rs 1 crore 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.
FretBox Founder and CEO Ashish Gupta said the company is thrilled to have the support of JSS STEP, India Accelerator, and angel investors as they 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 FretBox Founder and CEO Ashish Gupta.
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.
JSS STEP Chief Executive Officer Divya Rajput said Ashish is a hustler and JSS STEP 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 JSS STEP Chief Executive Officer Divya Rajput.
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.
India Accelerator Managing Partner Deepak Nagpal said FretBox is building fast traction, and India Accelerator likes the speed of execution.
“We are committed to being a growth partner of team FretBox from here onwards,” said India Accelerator Managing Partner Deepak Nagpal.
The funding round was led by JSS STEP and India Accelerator, with participation from a group of angel investors.
