Curated baby care marketplace Hopscotch.in is looking to raise additional funding of Rs 200 crore as it looks to expand operations in a fast-growing market. Hit The Mark, which owns Hopscotch, aims to grow its private label business, improve the user experience on its app and develop efficient tools for vendors on its platform to scale its business. “We have been building our private brands as well as brands for third parties. Close to a third of our sales come from private labels and if there is an opportunity to acquire third-party brands, we will do so,” said Rahul Anand, founder, Hopscotch.in. Meanwhile rivals like FirstCry owned by BrainBees Solutions, recently raised funding to strengthen its logistics arm Xpressbees. Hopscotch claims to have grown seven-fold in its business since it received funding in January 2015 led by Facebook cofounder Eduardo Saverin and venture capital firm Velos Partners. Working on a flash-sale model with brands in maternity and baby care, kids wear and lifestyle products, Hopscotch works with 3,000 brands sources from 40 different countries for the curated sales. According to experts, private labels can provide a margin as high as 50 per cent.
Source: Economic TimesHopscotch looking to raise Rs 200 crore to expand operations
Industry: Information technology 2016-02-24
