PNN
New Delhi [India], May 22: Noida-based B2B Proptech SaaS company, FretBox has secured seed investment from CXO Factor, a leading investment advisory firm based in Los Angeles. This investment marks CXO Factor's first investment in the Indian startup ecosystem.
Existing investors from FretBox's Angel and Pre-seed funding rounds have also increased their investment in this Seed funding round.
As higher education in India experiences rapid growth, there is an increasing demand for modern hostel infrastructure and advanced technology to support digitization and automation. FretBox (FretBox), a scalable and specialised vertical SaaS platform, caters exclusively to university student accommodation and is well positioned for substantial growth in this burgeoning market.
Ashish Gupta, CEO - FretBox, stated on the occasion, "The investment and support will be used to rapidly develop our technical offerings and expand our reach." Bishnu Sahoo, CTO and Sidharth Kaul, COO echoed their sentiments, emphasizing the importance of the funding in accelerating the company's growth and innovation.
FretBox has transformed the university student living experience at prestigious campuses, including Galgotias University in Noida, Thapar Institute in Patiala, KIIT in Bhubaneswar, Oriental University in Indore, and People's University in Bhopal, benefiting 60,000 students. Further, over 50 additional universities are currently in discussions to implement FretBox's solutions to enhance hostel management and provide a stress-free living experience for students.
Established in 2022, FretBox offers a comprehensive proptech solution for university and college hostels. The platform offers features such as a notice board, visitor log, amenities booking, digital assistant, fee collection, and security desk. Serving a diverse clientele, FretBox partners with both private and government institutions, committed to enhancing the student living experience through digital innovation.
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