Bucking Funding Trend, Amazon Backs Fashion Brand Hopscotch

Startup funding has been hard to come by, and that's especially true of companies in the South Asian nation of India. But there are exceptions to every rule. Hit the Mark, parent company of kid's fashion brand Hopscotch, recently raised $20 million in a funding round led by Amazon.com Inc.

With this investment, the company now has the funds needed to expand its lineup to serve a larger audience.

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Amazon Isn't Alone

While Amazon took the lead on this Series E financing round, other investors also got in on the action. This includes IIFL Seed Venture Fund, LionRock Capital, RPG Ventures, Techpro Ventures and Facebook Co-Founder Eduardo Saverin. 

“Hopscotch is the go-to digital brand for parents who want their kids to look stylish — every day and on every special occasion,” Hopscotch Founder and CEO  Rahul Anand said in a statement. “This investment allows us to invest in marketing, broaden our selection and enable more customers to express their unique sense of style.”

Hopscotch Has Had Funding Success In The Past

While Hopscotch has big plans for its most recent $20 million in raised funds, it's not the first time the company has received a cash infusion. To date, the startup has raised $71 million from Saverin, RPG Ventures, EE Capital and Velos Partners. 

This move by Amazon is the most recent in a long line of investments in Indian startups. In 2021, the company announced its plans to invest $250 million through its Smbhav Venture Fund. Since then, the world's largest e-tailer has invested in companies such as FreshToHome, M1xchange and XYXX. 

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