Fashion platform 6 Degree raises Rs 2.5 crore funds
6 Degree, one of India’s leading fashion platforms owned by Protinus Fashion Networking Pvt. Ltd, has raised fresh funding of Rs. 2.5 crore ($3,38,627) from global early-stage investor network Keiretsu Forum.
The company had raised an undisclosed amount from Sucseed Ventures, as part of its Pre-Series A round earlier this year.
6 Degree will be using the funds to help to improve its technology and help local designers build their fashion brands.
Commenting on the fundraise, Nikhil Hegde, co-founder and CEO of 6 Degree, in a statement said: “Keiretsu Forum brings an array of business growth expertise and key access to fashion retail segments, which will allow us to scale our technology solutions and bridge the gap between 700,000-plus home-grown designers and single/multi-brand stores across the country. With this round of funding, 6 Degree will be able to move faster to help local designer talent become strong national or global brands.”
Talking about the investment, Denny Kurien, president of Keiretsu Forum Bangalore and Delhi NCR added: “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 6 Degree's journey to tap into that market.”
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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