Tech platform for fashion community, 6Degree, has raised an undisclosed amount in seed funding from Centre For Incubation & Business Acceleration (CIBA), Goa.
According to the founding members, CIBA has initiated the funding with an overall target of $1 Mn which is likely to be closed in the next few months.
Founded in 2014 by Nikhil Hegde and Amit Bhardwaj, 6Degree, is a fashion talent platform for professionals, students, bloggers, employers, designers and photographers.
The platform serves as a place where fashion professionals can showcase their work online and offline, discover other like-minded professionals, network and grow their business within the fashion community. 6Degree provides plethora of products and services entailing online fashion platform, dedicated fashion job portal, fashion event associations and an end-to-end brand consultancy service for fashion professionals.
The company is headquartered in Leeds, UK and has two operational offices in India viz Hyderabad and Goa. The company recently shifted its base from Hyderabad to Goa, as the founders believe that Goa is a place where creativity and ideas flourish.
Commenting on Goa being the place for 6Degree, Nikhil Hedge, 6Degree’s co-founder said, “The brand Goa is much more than the stereotypical tag of fun and leisure. Goa is the epicentre of the creative belt and with the presence of several prestigious technical and management institutions, it now boasts of high quality talent that can be comparable to any metropolitan city.”
Hegde explained that the business model of 6Degree is an extension of his student project that was adopted by the incubator at Leeds University, UK. He got his investor visa in the UK and was assigned prominent UK investor Phil Wilson as a mentor.”
The company’s first round of funding was about $75K, which came from Wilson and Indian entrepreneur and investor Nitin Agarwal.
Hegde added , “We are well on track to reach our revenue target of $300 K (INR 2 Cr) by the close of the current financial year and this will add greater momentum in our growth plans into the Middle East and South Asian markets. In order to achieve this, we have also initiated a fresh round of funding to boost our seed capital.”
Speaking on the company’s achievements, co-founder Amit Bhardwaj added “The company is associated with over 2000 fashion professionals and over 10 fashion weeks and fashion institutions in India and South Asia. It is presently an official partner to several fashion events such as Lakme Fashion Week, Fiji Fashion Week, and Mysore Fashion Week.”
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