Protinus Fashion Networking Pvt. Ltd, which operates fashion commerce and retail management platform 6Degree, has raised funding from SucSEED Ventures as part of its pre-Series A round.
The startup will use the capital to grow its fashion commerce business, it said in a statement. It didn’t disclose the amount it raised.
6Degree was founded by Nikhil 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.
The startup says its proprietary retail management solution provides designers and brands with a unified platform to manage and grow their business. Previously, the company had raised seed funding from the Kieretsu Forum.
“6Degree has constantly been working in the affordable luxury market for emerging fashion designers. With a large base of designers and fashion professionals on the 6Degree network, there has been a need to leverage this asset and enable growth to the local talent and engage with customers across the globe,” Hegde said.
SucSEED co-founder and managing partner Vikrant Varshney said the investment in 6Degree would help the company achieve a “dominating position” in the fashion retailing industry in India.
6Degree says its network has over 15,000 professionals and more than 4,000 designers. It also has partnerships with brands and platforms such as IMG Reliance, Lakme Fashion Week and the Fashion Design Council of India.
SucSEED Ventures is an angel investment network comprising top corporate executives, technologists and serial entrepreneurs. It primarily makes early-stage investments and provides mentoring and access-to-market facilities.
In February this year, SucSEED participated in a Rs 8 crore pre-Series A round in Sanfe, a startup that sells women-focussed hygiene products. Titan Capital, an early-stage investment firm launched by e-commerce firm Snapdeal’s founders Kunal Bahl and Rohit Bansal, also took part.
In January, Uniplatform Tech Pvt. Ltd, which owns real estate software-as-a-service platform MultiplyMyLeads.com, raised funding from investors including SucSEED and Frontline Strategy Funds.
Other companies in SucSEED’s investment portfolio include Stockal, Paymatrix, Leadstart and Sportido.
