Hopscotch, baby products etailer raises $11M funding; investors include Facebook co-founder

Baby products are a booming product category in Indian ecommerce. And word on the block is that baby products etailer Hopscotch has raised $11 million in funds from a group of investors including VC fund Velos Partners, led by Facebook co-founder Eduardo Saverin.

Rise Capital (US based) and Jabbar Internet Group (Middle east based) were also part of the group of investors, in addition to existing investors like Lionrock Capital (Singapore based) and Toivo Annus (co-founder of Skype).

How will Hopscotch utilize the funding?

Hopscotch is one from a small group of etailers looking to tap into the nascent baby care product category and capture as much of the market share as possible. The new round of funding will help them in fine-tuning their operational process and technology, while also widening the products and services offered.

The Board of Directors of Hopscotch will also see some small restructuring. Co-founder and managing partner of Velos Partners, Samrat Ganguly will be part of the board from now and Saverin will also be part of it as an observer.

“Hopscotch.in’s early track  record  in  the  large  and  growing  Indian  e-commerce  market   combined   with   the   team’s   experience,   energy   and   vision   makes   this   an   interesting   investment   opportunity,” said Saverin.

“The company stood   out   to   me   as   a   remarkable   investment   opportunity- bringing   together   Indian   innovation,  global  best  practices  and  the  prospect  for  both  significant  domestic growth,   as   well   as   international expansion,” Ganguly added.