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

Textiles | On 23rd Aug 2017

US govt initiates Section 301 investigation of China

The US government has initiated an investigation of China under...

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Pakistan minister seeks ideas to boost textile sector

The Pakistani Government will come out with short- and long-term...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Kerem Durdag
Biovation II LLC

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

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

Silvia Venturini Fendi
Fendi s.r.l

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

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

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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