Amazon leads $20 mn funding round in children’s fashion brand Hopscotch

The round also featured Facebook co-founder Eduardo Saverin, and other existing investors including Lionrock, IIFL Seed Venture Fund, RPG Ventures, and Techpro Ventures. Hopscotch said it will use the money to expand offerings and serve more customers.

“This investment allows us to invest in marketing, expand our selection, and enable more customers to express their unique sense of style,” said Rahul Anand, founder and CEO of Hopscotch.

Prietham N., director of corporate development at Amazon, said Hopscotch has a strong brand recall. “Rahul (Anand), the founder and his management team are passionate about building the brand. We are impressed to see what they have done so far.

Hopscotch said the $20 million in funding is a testament to the strength of its technology platform that quickly identifies fashion trends and serves them to customers ahead of other retailers. With financial backing from Amazon and other investors, Hopscotch said it is well-positioned to accelerate growth and increase market share.

The e-commerce giant manages the $250 million Amazon Smbhav Venture Fund which was launched in April 2021 and invests in startups and entrepreneurs focused on technological innovations in SMB (small and medium business), digitization, agriculture and healthcare. XYXX, a luxury men’s underwear and lifestyle brand, has raised ₹110 crore ($13.5 million) in a Series C funding round led by Amazon Smbhav Venture Fund. Early this year, fresh fish and meat e-commerce company FreshToHome closed $104 million in Series D funding with Smbhav Venture leading.