The round also included participation from Eduardo Saverin, co-founder of Facebook, as well as other existing investors, including Lionrock, IIFL Seed Venture Fund, RPG Ventures, and Techpro Ventures.
The funding will enable Hopscotch to expand its offerings and serve even more customers with the latest styles in kids’ fashion.
Hopscotch claims to rapidly spot top fashion trends and serve them to customers before other retailers.
“Hopscotch is the go-to digital brand for parents who want their kids to look stylish – everyday and on every special occasion,” said Rahul Anand, founder and CEO of Hopscotch. “This investment allows us to invest in marketing, broaden our selection, and enable more customers to express their unique sense of style.”
The company is dual headquartered in Mumbai and New York and Anand runs the India business.
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It competes with the likes of SoftBank-backed FirstCry and Gini & Jony among others. “Hopscotch has strong brand recall in the kids’ category. With this investment, we are happy to work with Hopscotch as it continues to reach and delight more customers. Rahul, the founder, and his management team are passionate about building out the brand. We have been impressed to see what they have done till date”, said Preetham N, Director, Corporate Development at Amazon.
This is the second direct-to-consumer startup Amazon is backing this month. On May 15, innerwear maker XYXX said it has raised Rs 110 crore ($13.5 million) in fresh funding led by Amazon Smbhav Venture Fund. It announced a $250 million corpus in 2021 and has also backed online meat seller Fresh-to-home this year.
Before this deal, Hopscotch had raised more than $60 million in funding and was founded in 2015.
