Hopscotch raises $20 million in a funding round led by Amazon

An investment round sponsored by Amazon netted $20 million for Hit the Mark, Inc., the parent company of the kids' clothing line Hopscotch. Eduardo Saverin, a co-founder of Facebook, as well as other current investors Lionrock, IIFL Seed Venture Fund, RPG Ventures, and Techpro Ventures all participated in the round.

Hopscotch will be able to service more consumers and provide them the newest kid's fashion trends thanks to the funds. Hopscotch asserts that it can identify major fashion trends quickly and offer its consumers those trends before other stores. "Hopscotch is the go-to digital brand for parents who want their kids to look stylish – everyday and on every special occasion," said Rahul Anand, creator and CEO of Hopscotch. "This investment enables us to expand our selection, invest in marketing, and give more customers the opportunity to express their individual sense of style."

Anand is in charge of the Indian business, and the organisation has offices in both Mumbai and New York. It competes with companies like Gini & Jony and FirstCry, both of which are supported by SoftBank. Hopscotch is a well-known brand among children. We are excited to work with Hopscotch as it expands its client base and delights them with this investment. The founder, Rahul, and his management group are enthusiastic about expanding the brand. What they have accomplished so far has amazed us," said Preetham N, Director of Corporate Development at Amazon.

This is Amazon's second investment in a direct-to-consumer firm this month. Innerwear manufacturer XYXX announced on May 15 that it has secured new finance of Rs 110 crore ($13.5 million), headed by Amazon Smbhav Venture Fund. In 2021, it announced a $250 million corpus, and this year, it also supported the online meat retailer Fresh-to-home. Founded in 2015, Hopscotch had raised more than $60 million in investment prior to this agreement.