Fashion retail management platform 6Degree has raised Rs 2.5 crore ($340,250) from international early-stage investment network Keiretsu Forum.
Mumbai-based 6Degree says its retail management solution provides designers and brands with a unified platform to manage and grow their business.
This capital-raise from Keiretsu Forum – an existing investor – comes just a month after 6Degree raised funding from SucSEED Ventures as part of its pre-Series A round. It did not disclose the amount it had raised at the time.
Other investors in the company include the Indian Angel Network and Angel Bay, it said in a statement.
Company co-founder and chief executive Nikhil Hegde said the capital from Keiretsu Forum will help the firm accelerate allowing local designers to become recognised national and international brands.
“Affordable designer wear is a segment that will see phenomenal growth as India’s middle class moves up the value chain and our investors see value in being a part of 6Degree’s journey to tap into that market,” Keiretsu Forum Bengaluru and Delhi-NCR president Denny Kurien said.
Keiretsu Forum says it is a global network of individual investors, funds, corporate entities, and family offices that look to make investments in early-stage companies. It currently has more than 250 members in India.
6Degree was founded by Hegde and Amit Bhardwaj in 2015. Hegde is an alumnus of the University of Leeds and has worked with firms such as Bharti Airtel Ltd and KPMG. Bhardwaj graduated from Symbiosis International University and has been associated with Tata Teleservices and Wave Crest Payment Technology Pvt Ltd.
6Degree, run by Protinus Fashion Networking Pvt Ltd, claims to have over 4,000 designers and 15,000 fashion professionals on its network.
It also has partnerships with brands and platforms such as IMG Reliance, Lakme Fashion Week, and the Fashion Design Council of India.