Mumbai based 6Degree named B2B retail startup which is owned by Protinus Fashion Networking Pvt Ltd has raised $1 Million from SucSEED Indovation Fund, Keiretsu Forum, SucSEED Angel Network, and AngelBay as a part of run-up to a Series A round. 6Degree claims to grow 5x this year and on-boarding 3,000 brands to scale with it.
The Saas based startup 6Degree will utilize the funds to organize their operations and make its product “Honeycomb” better and to cater the fashion and lifestyle sector.
Nikhil Hegde, co-founder of 6Degree said, “India’s fashion and lifestyle industry is $100 billion and growing which is because of million SMBs and these businesses are ready to ride on the digital wave and scale their business. The uncertain pandemic has given the opportunity to these businesses to scale their business and reach newer markets and consumers. Honeycomb is designed for such businesses to go digital and extend it to an omnichannel space”.
Adding on the company’s growth Nikhil added “Our experience over last year was rewarding with over 300 percent growth in the revenue of Rs 13 crore in FY 2020-21, and over 600 fashion and lifestyle brands growing with Honeycomb”.
6Degree is a fashion network with over 15,000 professionals and home to over 4,000 fashion designers, it was founded in 2015 by Nikhil Hegde and Amit Bhardwaj. The company has a long-lasting partnership with over 100 multi-brand stores and leading fashion store platforms including Lakme Fashion week and Fashion Design Council of India.
Speaking on the investment, Vikrant Varshney, Co-founder and Managing Partner, SucSEED Indovation Fund, said,
“We have known the founding team since 2020 when we had invested from SucSEED Angel Network, and have seen them exceed their targets even in a crisis. Our investors have also helped them on the product roadmap.”
Denny Kurien, President, Keiretsu Forum, said, “We are confident that fashion, in and from India, will see strong growth as Indian brands and their work receive global recognition. 6Degree is uniquely positioned to ride that wave by becoming a one-stop repository of data, insight, and resources for designers and fashion brands.”