FreakOut Launches Funding Initiative In India
The company has made its first investment in 91Springboard, a co-working space
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FreakOut, the global marketing technology company, has announced the launch of its funding initiatives in India. This initiative aims to nurture the growth of Indian startups while helping them expand their business across global markets. In the initial phase, the company will focus on AdTech and B2B ventures powered by cutting-edge technology that is driven by an ambition to expand overseas.
FreakOut has invested in 91Springboard, a co-working space provider in India. This strategic partnership underscores FreakOut’s commitment to foster a healthy marketing ecosystem for startups in India. FreakOut will contribute to the growth of potential investees like 91Springboard through inputs in business research, sales and marketing supported by FreakOut’s 16 global branch offices.
Yuzuru Honda, Founder & Global CEO of FreakOut said, “I believe that Indian startups have great potential for growth in the foreign market, considering their advanced technological levels. FreakOut has been investing in several Indian startups with high-level products and helping to expand their business abroad for a few years now, and they are definitely proving their capabilities. By this investment in 91Springboard, we are aiming to "scale out" to achieve better coverage. Investing in 91Springboard, one of the most well-known co-working communities in India should bring us further valuable encounters with high-potential startups. In order to meet their needs and expectations, we intend to start a corporate venture capital fund for active investment. The hurdles for Indian startups to cultivate overseas markets are now decreased with their advanced technology, and FreakOut will provide positive support to further lower those barriers.”
On receiving the backing, Anand Vemuri, CEO of 91springboard, said, “We are privileged to receive support from the FreakOut. It is our shared vision of helping startups grow that has brought us together. FreakOut has helped many Asian startups expand into international markets, and together we are confident that we will help many Indian startups grow beyond India's borders and simultaneously support international companies establish and grow their presence in India."