6Degree raises $400,000 from Indian Angel Network, TAN Advisors
New Delhi: Indian Angel Network (IAN) and TAN Advisors, a network of angel investors in Punjab, have invested $400,000 in fashion technology start-up 6Degree.
This follows a $200,000 funding by IAN last year.
Based in Mumbai, 6Degree manages a community of designers, bloggers, photographers and other fashion professionals who engage on the platform to showcase their work and find work assignments.
“IAN is happy to lead the second round of funding for 6Degree, enabling them further to create a 360 degree fashion platform. It’s heartening to see the way 6Degree has grown, since our investment in 2016,” said Padmaja Ruparel, co-founder and president at IAN.
6Degree will use the funds to hire staff, upgrade the platform and for outreach.
Last year, it launched a mobile app called Studio, for people to hire professionals for catalogue shoots, brand management and public relations, among other things.
The company claims it made Rs3.1 crore in revenue in the fiscal year that ended in March 2017 and is operationally profitable.
Nikhil Hegde and Amit Bhardwaj founded 6Degree in 2014.
“6Degree was not formed to compete with big fashion brands but is for the masses, giving direct access to lakhs of fashion designers and students who graduate from fashion colleges every year,” said Nitin Jain, director at TAN Advisors.