Mumbai-based Protinus Fashion Networking Pvt. Ltd, a fashion technology company that operates as 6Degree, has raised about $200,000 in funding from the Indian Angel Network (IAN).
Abhishek Agarwal, the lead investor from IAN, will be joining the company’s board.
The company had raised an undisclosed amount in seed funding from Centre For Incubation and Business Acceleration (CIBA), Goa, in 2015.
The company, founded in 2014 by Amit Bhardwaj and Nikhil Hedge, is looking to allocate the funds to enhance technology, expand reach and launch tech solutions for fashion events.
“The fashion market in India is going to be huge in the next 10 years. We have already seen affluent Indian consumers spending on Indian designer wear for key functions and also preferring to wear international brands. 6Degree’s collaborations with both fashioner designer and fashion week is unique in nature. In addition, their upcoming tech platform will bring efficiency to the system,” said Agarwal.
6Degree allows professionals from the fashion ecosystem to connect and collaborate with new business opportunities, launch brands and showcase their creations. It clocked revenues around Rs.1 crore last year. The business already serves over 2,500 fashion professionals.
This story was first published on livemint.com