India Digest: Online retailers Pepperfry, Hopscotch eye new funding rounds

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Existing investors of Pepperfry may invest around $100 million more in the company, while online baby products retailer Hopscotch is looking to raise up to $75 million in a new round.

Pepperfry in talks to raise $100m from existing investors

Online furniture retailer Pepperfry is in talks to raise around $100 million from its existing investors Goldman Sachs, Norwest Venture Partners and Bertelsmann India Investments, said a report in The Economic Times quoting sources.

According to the report, the funding, which is likely to be in the form of fresh equity, will help the Bengaluru-based firm expand its offline presence and diversify its offerings.

Norwest Venture Partners and Bertelsmann India had invested around $15 million in the company in 2014, while Goldman Sachs had led a $100-million round along with Norwest and Bertelsmann in 2015, followed by an additional Rs 210 crore in 2016.

Baby products platform Hopscotch eyes up to $75m funding

Baby apparel and clothing platform Hopscotch, operated by Hit The Mark, is said to be looking to raise around $50-75 million to fund its growth plans, including launching an omnichannel strategy.

According to a source-based report in The Economic Times, Hopscotch has so far raised around $50 million in equity funding, including at least $25 million in three funding rounds between May 2014 and February 2016 from a clutch of investors including Facebook co-founder Eduardo Saverin, Velos Partners, Jabbar Internet Group, LionRock Capital, Rise Capital and Toivo Annus, one of the early employees at Skype and founder of Ambient Sound Investments.

The company recorded gross sales of Rs 350 crore in the calendar year 2018 and is projecting revenues of Rs 900 crore in 2019.

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India: Hopscotch in talks to raise $20m in Series D funding round