Amazon, Facebook Co-Founder Invest In Kids Apparel Brand Hopscotch
CEO Rahul Anand says the investment allows Hopscotch to invest in marketing and broaden its selection.
Hit the Mark Inc., which operates kids-focused fast fashion brand Hopscotch, has raised $20 million—or about Rs 165 crore—in a funding round led by Amazon.com Inc.
Other investors in the round included Facebook Co-Founder Eduardo Saverin as well as other existing investors, including LionRock Capital, IIFL Seed Ventures, 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 Rahul Anand, chief executive officer at Hopscotch.
"Hopscotch has strong brand recall in the kids' category," Preetham N, director of corporate development at Amazon, said. "We have been impressed to see what they have done till date."
The company had raised $25 million, or Rs 206 crore, in a funding round last year when Saverin had first invested.
