HYDERABAD, BENGALURU and MUMBAI, July 17, 2020 / PRNewswire / – SucSEED Ventures Invests In Protinus Fashion Networking Pvt Ltd, to broaden its horizon in the Fashion Commerce & Retail Management Platform segment. SucSEED is investing in 6Degrees through this pre-Series A round, whereas Kieretsu Forum had invested seed money earlier.
6 degree east india the largest fashion network with more than 15,000 professionals and more than 4,000 fashion designers. The company also has long-standing partnerships with over 100 multi-brand stores and leading fashion platforms such as IMG Reliance, Lakme Fashion Week, Fashion Design Council of India and several esteemed names, welcoming big names such as Rohit Bal, Tarun Tahiliani, Manish arora and many more.
Nikhil hegde, co-founder of 6Degree, said: â6Degree has consistently worked in the affordable luxury market for emerging fashion designers. With a large base of designers and fashion professionals on the 6Degree network, there was a need to leverage this asset and enable local talent to grow and engage with clients across the globe. 6Degree has strong existing partnerships and have been able to add business value to more than 500 emerging fashion designer brands by giving them access to national and international markets. We also launched www.6Degree .store to provide fashion-conscious consumers with access to unlimited styles from local designers and at affordable prices. “
Speaking about the company’s plans to use the funds, Nikhil Hegde said: â6Degree will now be able to go faster and bring democracy in styles to consumers and support local creative talents to become strong national and global brands.
Expressing why SucSEED invested in 6Degree, Dr.Moti Vyas, an active investor in SucSEED, said: â6Degree has a vision to transform the fashion industry as it provides an end-to-end platform for fashion industry participants with a technology infrastructure digital. marketplace for new players and above all a world-class customer experience at an affordable price. “
Vikrant varshney, Co-founder & Managing Partner, SucSEED, said: âThe Indian fashion retail industry $ 100 billion, with a global market of over $ 3 billion. There are over 700,000 local designer brands in India looking to retail through more than 75,000 single-brand and multi-brand store networks. In addition, each year, more than 25,000 fashion students graduate and many of them launch their own local brands. Our investment in 6Degree would help them achieve a dominant position in this space and organize the market. ”
Speaking of this investment further, Dhiraj sinha, Co-Founder & Partner, SucSEED, said: â6Degree aims to democratize the fashion industry to india middle class. The company is run by the passionate duo – Nikhil hegde and Amit Bhardwaj with global fashion industry experience and a vision to ‘make a difference’. We are proud of our association with 6Degree. “
About 6 degree
6Degree (http://6degree.co) was launched in 2015 by Nikhil hegde and Amit Bhardwaj, with the vision of bringing the unorganized fashion industry together on one platform and through it, democratizing style for consumers. Today, 6Degree offers every player in the fashion industry the opportunity to grow their business, whether through service opportunities or product sales. Designers now have access to new markets, nationally and internationally through the 6Degree retail platform (https://www.6degree.store), while fashion service providers can now be discovered by the biggest brands via india largest fashion network – 6Degree.
Problem (s) that 6Degree addresses:
- Fashion is still seen as consumption for the wealthy class, however, most people aspire to be fashionable. Bringing personalized and affordable luxury clothing to consumers of local fashion brands. Stylish products at affordable prices are always seeking new markets and consumers among the growing middle class population of India.
- Local fashion designer brands are struggling to establish themselves globally.
- Offer business and employment opportunities to fashion professionals through india largest fashion network – 6Degree Network. Fashion service providers can now access jobs and opportunities without a middleman and without guarantee of payment.
- 6Degree has launched its Retail Management Solution which provides designer brands with a single platform to grow and manage their business across all online and offline sales channels. 6Degree manages over 200 designer brands through its unique retail platform and provides access to new markets and consumers. 6Degree Retail Management now enables local brands to go digital while providing them with retail opportunities in physical stores through its extensive network of store partners.
- One of the largest industries in India is built by local fashion designers and local brands and 6Degree now enables the VocalforLocal campaign by tailoring these local brands to national and international markets.
- 6Degree Network enables fashion and lifestyle brands to tap into the growing community of fashion talent to be discovered and find jobs in fashion. Major corporate and lifestyle brands have taken advantage of the 6Degree network to go viral in digital domains.
About the Potential market in this space
India’s fashion retail industry is on $ 100 billion, the global market exceeding $ 3 billion. Having one of the largest youth populations in the world, global and local brands see India as a new opportunity in the fashion segment. There are over 700,000 local fashion designer brands in India looking to retail through more than 75,000 single-brand and multi-brand store networks. In addition, each year, more than 25,000 fashion students graduate and many of them launch their own local brands.
Details of the founders:
- MBA from the University of Leeds | University topper for MBA
For more information on 6Degree, please contact:
About SucSEED Ventures
SucSEED Ventures, founded in 2016, is one of the fastest growing angel investor networks, with a mix of CXO-level corporate professionals, tech angels, business leaders and entrepreneurs. in series, which have come together to fuel the growth of the early stage Indian start-up system, with the provision of growth capital, market access organization and business mentoring. SucSEED’s investment strategy is primarily focused on the growth stage of post-income startups involved in “innovation for the masses” or use cases with real issues using emerging technology.
SucSEED has invested in various areas such as Fintech, Edtech, Real-estate Technology, HR Tech & Expert Network, Enterprise SAAS, the Analytics space mainly, but also open to assistance in other areas. SucSEED facilitates and mobilizes seed funds through angel investments and provides venture capital support to these entities and teams.
- EdTech: Kindergarten to Grade 12 lifecycle, STEM in college and beyond, like OckyPocky, XploraBox, Tinkerly, and LetzConnect
- FinTech and card analysis : With two rounds of financing in i2iFunding and other companies such as Paymatrix, Insense, Stockal, they have penetration in payments, card analysis, wealth management, P2P and the lending space
- Company SAAS, Gig Economy & RH Tech: Tapchief, ranked in the Top 3rd Started by Linkedin & Kenyt
- RealtyTech & City Solutions: With MML, Kenyt and Paymatrix, they have good coverage in RealtyTech Solutions
- Supply chain, HoReCa supply platform and cross-border trade platform: Eunimart Vdezi, Aducrup
- Publishing and Media Technology: Leadstart pencil
- Sports & Health Hygiene: Sportido & Sanfe
- Automotive, Logistics & IOT: Sepal
- Fashion platform: 6 degree
The SucSEED network includes professionals and entrepreneurs who largely supervise the beneficiary startups. Investors are industry leaders with deep domain knowledge and peer networks, helping to create a structure to support start-ups and further improve ecosystems. Startups will be able to leverage the expertise of individual investors who are part of the initiative and share their expertise in the areas of sales and marketing, finance, systems and technology, risk, law and compliance, human resources and training.
For more information on SucSEED or about this investment, please visit: LinkedIn, Twitter , Facebook, website
For more information on SucSEED or this investment, please contact:
The SucSEED Ventures content team, Hyderabad.
E-mail: [emailÂ protected]
LinkedIn, Twitter , Facebook, website
SOURCE SucSEED Venture Partners LLP