Hit the Mark Inc., which operates kids’ fashion brand Hopscotch, has raised $20 million in a funding round led by Amazon. The round also included participation from Eduardo Saverin, co-founder of Facebook, and existing investors, including Lionrock, IIFL Seed Venture Fund, RPG Ventures, and Techpro Ventures.
The funds will be used to expand Hopscotch’s offerings and serve more customers with the latest styles in kids’ fashion, the company said in a statement.
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“Hopscotch has strong brand recall in the kids’ category. With this investment, we are happy to work with the brand as it continues to reach and delight more customers. We have been impressed to see what they have done to date”, said Preetham N, Director, Corporate Development at Amazon.
The funding round is a testament to the strength of Hit the Mark’s technology platform, which enables Hopscotch to rapidly spot top fashion trends and serve them to customers before other retailers. With financial support from Amazon and other investors, the company said it is well-positioned to accelerate growth and increase its market share.
Rahul Anand, Founder, and CEO of Hopscotch, said, “The investment allows us to invest in marketing, broaden our selection, and enable more customers to express their unique sense of style. This is the go-to digital brand for parents who want their kids to look stylish.”
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