Delhi-based Survar Media Pvt. Ltd, which runs online fashion discovery platform Hoppingo, has raised Rs 60 lakh ($89,000) from Gurgaon-based vCommission, which is a 100% subsidiary of Adways VC India Pvt. Ltd, a joint venture between Tokyo Stock Exchange-listed Adways Inc and VC Internet Media. vCommission’s founder Tarang Bhargava will also chair the firm’s advisory board.
Launched in November 2014, Hoppingo curates more than 800 e-stores across nearly 20 categories, including accessories, apparel and home décor. Home to more than 10,000 products, the company charges Rs 200-250 on every transaction done on its platform. On an average, it is 5,000 transactions per month. By October, the startup aims to achieve 10,000 transactions.
The firm claims to have clocked Rs 40 lakh in net sales in FY2014-15. Hoppingo.com has garnered much respect since their launch. Their USP lies in their individual selection of the best merchandises across the digital world and showcasing them with detailed information on their website. A unique initiative, this has eased the lives of e-shoppers helping them to speedily find products of their preferred choice without wasting too much time. The startup was rated among the top 32 startups in India by NASSCOM in October 2015, had raised its first round of funding from Bhaskar Viswanadham—who has been working with New York-based Broadridge Financial Solutions—last year.
On the partnership with vCommissiom, 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."
Last month, vCommission invested in two startups—LetReach (a push notification tool for websites that helps brands reach consumers) and Spinsvilla (a UK-based entertainment gambling website).
Earlier this year, vCommission had launched its accelerator in Mohali, Punjab to help startups working in the ad-tech space with funding and mentorship.
Other players which operating in the space are Roposo, Hippily, Wooplr, Withme, Zappka and Styledotme, all of them have raised funding recently.
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