Hoppingo, an online fashion discovery platform, has raised around $89,000 in its seed funding round from vCommission. As a part of this funding deal, vCommission’s founder Tarang Bhargava will also chair the firm’s advisory board.
Founded in November 2014, Hoppingo curates more than 800 e-stores across nearly 20 categories, including accessories, apparel, and home décor. The platform claims to have more than 10,000 products on its platform.
Its USP lies in their individual selection of the best merchandise across the digital world and showcasing them with detailed information on their website.
The company earns revenues by charging Rs 200 to 250 for every transaction done on its platform. The company claims to have clocked Rs 40 lakh in net sales in the financial year 2014-15.
On an average, the company is getting 5,000 transactions per month and aims to achieve 10,000 transactions in near future.
The startup was rated among the top 32 startups in India by NASSCOM in October 2015. Earlier, the company had raised its first round of funding from Bhaskar Viswanadham, who has been working with New York-based Broadridge Financial Solutions.
On raising funding from vCommission, Swati Gauba, the Founder & CEO, Hoppingo.com, says,
Liaisons with like-minded professionals is what we have always believed in. Our alliance with vComission is a step in that direction and we intend making our timeline sexier with similar minds. The synergies between vCommission and Hoppingo.com tread a similar path & getting Tarang and Parul on our advisory board has only bolstered the team and the business further.
vCommission is a subsidiary of Adways VC India. Last month, vCommission invested in two startups — LetReach and Spinsvilla. LetReach is a push notification tool for websites that helps brands reach consumers while Spinsvilla is a UK-based entertainment gambling website.
Many startups in the fashion discovery space have raised significant amounts of funding in past few months. Earlier this month, Hippily, a personalization app for women had raised $250,000 in its seed funding round.
Last month, Gurgaon-based Roposo raised $5 million in the second leg of its Series-B round from Bertelsmann India Investments (BII). In the same month, another similar app named WithMe raised $250,000 in angel round from a group of investors.