Online kids’ apparel retailer Hopscotch’s parent company Hit the Mark, Inc. raised $20 million in funds led by Amazon where Facebook cofounder Eduardo Saverin and existing investors like Lionrock, IIFL Seed Venture Fund, RPG Ventures, and Techpro Ventures also participated.
Hopscotch stated that the new financing would be used to expand its operations and provide more clients with the latest fashions in children’s fashion.
“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, Hopscotch’s creator and CEO.
Hopscotch sells a wide range of baby items online. Its product line comprises, among other things, blouses, dresses, toys, skincare products, trainers, and sandals.
It competes with companies like Pune-based unicorn Firstcry and Dia-Mirza-backed sustainable baby clothing manufacturer Greendigo.
The kids apparel market caters to children between 0 to 14 years of age. According to a report, India’s kids apparel market reached a size of $ 21.1 billion in 2022 and is expected to expand at a CAGR of 2.6% to $24.5 bilion by 2028.
