Eduardo Saverin, social networking site Facebook’s co-founder, and venture capital fund Velos Partners have invested $11m in Hopscotch, an Indian e-commerce portal selling merchandise for children. It sells products from over 1,000 vendors in India and claims to make 1,000 shipments per day.
In a statement Hopscotch said it would use the funds primarily to build operational capacity and technology, to support growth initiatives and expand its products and service offerings. “I have been actively following the Internet market here and I am thrilled to make my first direct investment,” said Saverin.
This is the second round of investment for the 2012-incorporated company, which has now cumulatively raised $15m in funding. The website sells over 1,000 local and global brands across multiple product categories, including apparel, shoes, toys and accessories.
The world's largest collection of global supply chain intelligence