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

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Tim Savage from Pexels

Textiles | On 19th Jun 2018

Da Lat begins construction of $50mn wool yarn factory

Da Lat Worsted Spinning Limited Company has begun construction of a...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Urmil Arya

Sushila International, a well established textile organisation established ...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search