FretBox raises Rs 1 crore in pre-seed funding from JSS STEP, India Accelerator, others

Software as a service (SaaS) platform FretBox on Friday said it has raised Rs 1 crore pre-seed funding from JSS STEP, India Accelerator, and a group of angel investors.

The Noida-based startup, which provides solutions to college and university campus hostels for digital transformation in security, communications and fund collection tools, said the fund will be used to fuel the company’s growth, expand its product offerings, and scale its operations. FretBox has universities and colleges as their customers in Delhi-NCR, Uttar Pradesh, Madhya Pradesh, Odisha, and Jharkhand, and it aims to onboard 50-plus institutions by the second quarter of FY24.

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“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 Ashish Gupta, Founder, and CEO, FretBox.

JSS STEP is a startup accelerator which has a strong track record of supporting technology startups in healthcare, education and fin-tech. “FretBox for campus hostels is deemed to scale and make an impact on the residential experience of students,” Divya Rajput, CEO of JSS STEP, said.