Mumbai: Hit the Mark, Inc., the parent company of Hopscotch, raised funding of $20 million led by global e commerce giant Amazon.
The round also saw participation from Eduardo Saverin, Co-founder of Facebook, as well as existing investors which include Lionrock, IIFL Seed Venture Fund, RPG Ventures, and Techpro Ventures.
“This investment allows us to invest in marketing, broaden our selection, and enable more customers to express their unique sense of style,” said Founder-CEO Rahul Anand in a statement shared by the company.
Hopscotch aims to use the capital to expand its offerings and serve more customers. “We have been impressed to see what they have done till date,” said Preetham N, Director, Corporate Development at Amazon.
The collaboration between Hopscotch and Amazon, along with the support from other investors, makes the brand well-positioned to accelerate growth and gain a larger market share. Its technology platform enables Hopscotch to rapidly spot top fashion trends and serve them to customers before other retailers.
Mumbai-based D2C store Hopscotch sells kids’ clothes, footwear, and accessories in India, catering to style-conscious parents who want their kids to look stylish as well. The company has partnered with Amazon, Flipkart and several third-party platforms such as Snapdeal, and says that smaller towns drive close to 80% of its revenue.
