Hopscotch, a Mumbai based e-commerce startup which sells baby products, has raised funding from Nisa Godrej, the daughter of industrialist Adi Godrej, Singapore based LionRock Capital and others, according to a new report.
The company founded by Rahul Anand and Lisa Kennedy, formerly of Diapers.com, wants to sell goods worth $4 mn this fiscal year, the Times of India reported.
Diapers co-founder Wei Yan, former Goldman Sachs senior executive Hari Kumar and Skype Co-founder Toivo Annus were the other investors in the company. Rahul Anand said
We are providing mothers a new digital shopping experience, which was lacking in offline retailing. We are not a catalog e-commerce engine, but sell curated merchandise which moms won’t find in neighbourhood stores. (via)
It appears that the company is planning a pure online model. However, we wonder if that is the right strategy for the Indian market.
Slower than expected sales of baby products online has led to a round of consolidation in the industry. Online baby products company Babyoye merged with Hoopos in April 2013. Babyoye, which had raised $12 mn from Helion, Tiger Global & Accel Partners, later downsized.
Meanwhile, Firstcry, which raised $14 mn from IDG Ventures India and SAIF Partners in 2012 and followed it up with another round of funding (nealry $15 mn) in January, is looking to open 50 new offline stores.
Some of the purely online players seem to be slowly venturing into offline sales as well.