Hopscotch Secures $20M in Funding Led by Amazon
- ByStartupStory | May 24, 2023
Parent company Hit the Mark, Inc., which operates Hopscotch, secures $20 million in funding with participation from Amazon, Facebook Co-founder Eduardo Saverin, and existing investors 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.
With the newly raised capital, Hopscotch plans to expand its offerings and cater to a larger customer base, aiming for further growth. Preetham N, Director of Corporate Development at Amazon, expressed admiration for the company’s achievements thus far.
The partnership between Hopscotch and Amazon, in addition to the backing from other investors, positions the brand favorably for accelerated growth and an increased market share. Leveraging its advanced technology platform, Hopscotch has the capability to quickly identify and offer the latest fashion trends to customers ahead of other retailers.
Hopscotch, a direct-to-consumer (D2C) store headquartered in Mumbai, specializes in selling fashionable kids’ clothing, footwear, and accessories in India. With a focus on style-conscious parents, Hopscotch has formed partnerships with leading online platforms including Amazon, Flipkart, Snapdeal, and other third-party platforms. Interestingly, the company highlights that approximately 80% of its revenue comes from smaller towns, indicating a significant market presence beyond major cities.
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