Home / Knowledge / News / Apparel/Garments / Hopscotch raises $13 mn from FB co-founder Saverin
Hopscotch raises $13 mn from FB co-founder Saverin
01
Mar '16
Hit The Mark Inc., which runs Mumbai-based curated baby and kids products flash sales site Hopscotch.in, has raised $13 million (around Rs 89 crore) in Series C funding led by Facebook co-founder Eduardo Saverin.

Hopscotch.in is Saverin's first direct investment in India.

“We are excited to have Eduardo Saverin on our board, who will work in tandem with us. With invaluable insights and experience, it is reassuring to have him as an investor,'' Rahul Anand, founder and CEO of Hopscotch.in, said in a statement.

The company plans to utilise the funds to expand its technology platform and augment its customer base by adding products and features.

While the children's apparel market in India is pegged at Rs 95,000 crore (around $14 billion) and expanding at a compounded annual growth rate of about 20 per cent, it is still largely controlled by unbranded units.

Last year, Hopscotch secured $11 million in its Series B round of funding led by Saverin's VC fund Velos Partners. The round also saw participation from US-based Rise Capital, Middle East-based Jabbar Internet Group, and existing investors Singapore-based Lionrock Capital and Skype co-founder Toivo Annus.

Hopscotch was founded by Rahul Anand and Lisa Kennedy in 2012. Anand holds an MBA from Harvard Business School and a BS in Mechanical Engineering from University of Michigan. Prior to setting up the startup, Anand was director of Diapers.com, which was acquired by Amazon in 2011. Earlier, he had worked at companies such as Skanan Ltd, Dell, Optiant and Honeywell Aerospace. An MBA from Harvard Business School, Kennedy earlier worked at Quidsi Inc., Time Inc., Diageo, and Goldman Sachs.

Hopscotch recently made some top-level appointments and hired Shyam Seshadri as head of engineering, Nathan Stanton as head of design, Rachel Steinberg as senior product manager and RV Krishna as senior product designer.

Hopscotch targets mothers, offering a range of products, from apparel and shoes to toys and accessories. The Hopscotch platform has over 3,000 local and international brands across multiple product categories including apparel, shoes, toys and accessories. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search