Business, Ecommerce

Mumbai Based Hopscotch Raises USD 11M from Eduardo Saverin, Velos and Others


Hopscotch, a Mumbai-based online baby products retailer has raised USD 11 million in Series B round led by Facebook Co-Founder Eduardo Saverin with participation from Los Angeles based early stage investor Velos Capital. The other investors Rise Capital, Jabbar Internet Group, and existing investors – Lionrock Capital and Skype Co-Founder Toivo Annus also participated in the round.

“The latest round of funding will enable us to ramp up marketing, add more product categories and build out the senior management team,” Hopscotch founder and CEO Rahul Anand told ET. Started in 2012, as a venture of Rahul Anand and Lisa Kennedy, the company had received USD 15 million funding till date.

In February 2014, it had secured USD 2 million led by Singapore based LionRock Capital along with Nisaba Godrej, Skype co-founder Toivo Annus and CTO Wei Yan.

Hopscotch is offering around 1,000 local and international brands across multiple product categories including apparel, shoes, toys and accessories, for infants and kids. Last year, it had acquired the eCommerce site Skoolshop, in a stock and cash deal.

The firm is directly competing with Pune-based FirstCry and Mumbai-based Babyoye. Earlier in 2013, Babyoye acquired Bangalore based Hoopos in a stock-swap deal. Its other competitor FirstCry had raised about USD 29 million till date from IDG Ventures India, SAIF Partners, Vertex Venture Holdings among others.

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