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Hopscotch.in, a Mumbai based babycare and kids products etailer owned and operated by Hit The Mark Inc, has raised $13 million (around Rs 89 crore) in a Series-C investment round led by Facebook co-founder Eduardo Saverin.
Hopscotch.in, a discovery-based e-commerce destination for moms, holds the distinction of Eduardo's first-ever direct investment in India. Saverin's family office will join the Hopscotch board.
Eduardo, along with Velos Partners and a clutch of investors including Rise Capital, Jabbar Internet Group, Singapore-based Lionrock Capital and Skype co-founder Toivo Annus, had invested $11 million in Hopscotch in a Series-B round in January 2015.
Founded in October 2012 by Harvard Business School alumni Rahul Anand and Lisa Kennedy, Hopscotch currently offers over 3,000 local and international brands across multiple product categories including apparel, shoes, toys and accessories. The company intends to deploy the newly-secured funding for its growth and expansion of its technology platform.
"I am very excited to support the team with this investment, and continue to be closely involved with building the company's vision and strategy. Hopscotch is taking a customer focused approach and as a result seeing record high customer retention. I believe that if they continue serving moms with an exceptional selection, coupled with a delightful tailor-made experience, Hopscotch will become the destination for moms in India,'' Saverin said in a statement on Monday.
Globally known as an avid technology entrepreneur, Eduardo has recently gained much fame as an angel investor keenly supporting technology ventures. The Brazilian-born billionaire, with a net worth of close to $7 billion, has invested in early-stage startups such as Qwiki and Jumio.
"We are excited to have Eduardo on our Board, who will work in tandem with us and continue providing Indian moms with the best for their kids. With invaluable insights and experience, it is reassuring to have him as an investor. This announcement marks a new milestone in Hopscotch's journey to be the iconic destination for moms,'' said Hopscotch.in founder and chief executive officer Rahul Anand.
