Fashion platform 6 Degree raises $1 million funds
Mumbai-based start-up 6 Degree, owned by Protinus Fashion Networking Pvt Ltd, has raised $1 million (Rs 7 crore) from Sucseed Indovation Fund, Keiretsu Forum, Sucseed Angel Network, and Angel Bay.
The start-up will utilise the funds to strengthen its B2B retail platform ‘Honeycomb’ which caters to the fashion and lifestyle sector.
Commenting on the funding, Nikhil Hegde, co-founder of 6 Degree in a statement said: “Honeycomb is specifically designed to enable such brands to go digital and extend it to an omnichannel space. Our experience over the past year has been rewarding with over 300 percent growth in revenue to reach Rs 13 crore in FY 2020-21, and over 600 fashion and lifestyle brands growing with Honeycomb.”
Speaking on the investment, Denny Kurien, president at Keiretsu Forum added: “We are confident that fashion, in and from India, will see strong growth as Indian brands and their work receive global recognition. 6 Degree is uniquely positioned to ride that wave by becoming a one-stop repository of data, insight, and resources for designers and fashion brands.”
6 Degree was started in 2015 by Nikhil Hegde and Amit Bhardwaj. It has partnerships with over 100 multi-brand stores and leading fashion platforms, such as Lakme Fashion Week and Fashion Design Council of India.
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