At a Glance
Mumbai-based B2B retail SaaS startup 6Degree has raised $1 million in funding from SucSEED Indovation Fund, Keiretsu Forum, SucSEED Angel Network, and AngelBay. The proceeds shall be utilized in scaling up business operations for ‘Honeycomb,’ their flagship product.
Honeycomb is the software platform that 6Degree provides to fashion and lifestyle brands to help them manage inventory, track and manage orders, and boost online sales. According to Nikhil Hedge, Co-founder and CEO, 6Degree, enunciates the role played by Honeycomb in enabling businesses to go digital.
Stating that the fashion and lifestyle market is growing at a rate of $100 billion, where many small and medium-sized businesses that form the foundation of such industries are also looking to make a digital leap, Nikhil added,
The pandemic has allowed these businesses to scale their businesses and reach newer markets and customers. Honeycomb is specifically designed to enable such brands to go digital and extend it to an omnichannel space.Nikhil Hedge, Co-founder and CEO
Founded in 2015, 6Degree currently has over 15000 professionals in its fashion network and is home to over 4000 fashion designers. Owing to the pandemic-induced tailwinds, digital transformation in businesses, including fashion and lifestyle, has witnessed acceleration. 6Degree believes that relying on technology has largely helped such companies quickly change and adapt their style of business.
Reports have stated that 6Degree’s claims of being on a five-fold increase in growth track this year. Over 3000 brands shall also scale with them, if aspirations are met. Co-founder and Managing Partner, SucSEED Indovation Fund, Vikrant Varshney, commented on the investment.
We had known the founding team since 2020 when we had invested from SucSEED Angel Network, and have seen them exceed their targets even in a crisis. Our investors have also helped them on the product roadmapVikrant Varshney
We are confident that fashion, in and from India, will see strong growth as Indian brands and their work receive global recognition. 6Degree is uniquely positioned to ride that wave by becoming a one-stop repository of data, insight, and resources for designers and fashion brands.Denny Kurien, President, and CEO, Keiretsu Forum
As of now, Gatheround has about 260000 users on its platform. Riding on organic growth and armed with funding- the most recent one being a Seed funding of $3.5 million co-led by Homebrew and Bloomberg Beta, Gatheround eyes to build on its momentum and gallop forward. Their proceeds, according to reports, are aimed at adding more functionality to their platform.