Hopscotch, a brand for kids’ fashion, has announced that its parent company, Hit the Mark, Inc., raised $20 million in a funding round led by e-commerce giant Amazon.
The round also included participation from Eduardo Saverin, co-founder of Facebook, as well as other existing investors, including Lionrock, IIFL Seed Venture Fund, RPG Ventures, and Techpro Ventures.
The funding will enable Hopscotch to expand its offerings and serve even more customers with the latest styles in kids’ fashion, it 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,” said Rahul Anand, Founder and CEO of Hopscotch.
Established in 2012, Hopscotch targets its clothing products for children up-to-10 years. In addition, the startup also sells food and personal care items owned by other brands.
This marks the Series E round for the company.
In 2020, Hopscotch had garnered as much as $25 million in its Series D round from investment firms such as EE Capital, Lionrock Capital, Rise Capital, RPG Ventures and IIFL Seed Ventures Fund. Prior to that, in February 2016, the startup had raised $13 million in its Series C round.
Amazon launched a $250 million venture fund in April 2021 to invest in startups. Its other portfolio companies Cashify and FitterFly, among others.