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Facebook co-founder invests further in Hopscotch

MUMBAI: Hit The Mark Inc., the parent company behind Hopscotch.in, today announced that it has successfully secured $13 million in a Series C investment led by Facebook co-founder Eduardo Saverin.

India’s leading discovery based e-Commerce destination for moms, Hopscotch.in holds the distinction of being Eduardo’s first ever direct investment in India. Also, the Saverin Family Office will join the Hopscotch board and work closely with the management team, a testimony to the company’s growth and expansion.

Hopscotch.in, currently growing at 700% year-on-year in terms of revenue, makes this announcement amidst a flourishing entrepreneurial culture in India, and the start-up India movement.

Co-founded by Harvard Business School alumni Rahul Anand and Lisa Kennedy in October 2012, as a discovery-based e-Commerce destination for Indian moms, it offers a wide range of curated children’s merchandise. It looks forward to dedicating the newly secured funding for its growth and expansion in technology platform.

Said Anand, “We are excited to have Eduardo on our board, who will work in tandem with us and continue providing Indian moms with the best for their kids. With invaluable insights and experience, it is reassuring to have him as an investor. This announcement marks a new milestone in Hopscotch’s journey to be the iconic destination for moms.’’

Globally known as an avid technology entrepreneur, Saverin has recently gained much fame as an angel investor keenly supporting tech ventures. His investment in Hopscotch.in is a move that will not only further encourage the company’s expansion plans, but also intensify his involvement in its growth trajectory.

Speaking about this new development, Saverin said, “ I am very excited to support the team with this investment, and continue to be closely involved with building the company’s vision and strategy. Hopscotch is taking a customer focused approach and as a result seeing record high customer retention. I believe that if they continue serving moms with an exceptional selection, coupled with a delightful tailor-made experience, Hopscotch will become the destination for moms in India. ’’