6Degree, a fashion talent and tech startup, on Thursday said it has raised $200,000 from Indian Angel Network (IAN). Abhishek Agarwal, IAN’s lead investor, will be joining the company board.
"Fashion as a genre cannot be underrated and it is important to integrate technology with fashion. Our aim is to unite various domains of fashion and create one holistic group of like-minded people,” says Nikhil Hegde, co-founder and chief executive, 6Degree. "Since our launch in 2015, we have progressed rapidly in this space to close our first financial year with revenues in excess of Rs 1 crore. The business of fashion industry is marked at over $1 trillion and India constitutes about 10 percent of the global market share."
The company plans to utilise the funds raised for enhancing its technology and expanding its reach. The funds will also be deployed in expanding its bespoke fashion services and launching a first-of-its -kind Enterprise Solutions for Fashion Weeks.
"The fashion market in India is going to be huge in the next 10 years. We have already seen Indian affluent consumers spending on Indian designer wears for their key functions and also preferring to wear international brands. 6Degree collaborations with both fashioner designers and fashion weeks are unique in nature. In addition, their upcoming tech platform will bring efficiency into the system,” says Abhishek Agarwal, the lead investor in 6Degree.
6Degree began its journey in 2014 as a fashion talent and tech startup which provides opportunities for fashion professionals to showcase their talent across the globe. It unifies individuals related to the fashion domain such as fashion designers, bloggers, brands, models and photographers on a single common platform. The business already serves over 2,500 fashion professionals and boasts of elite fashion weeks such as Lakme Fashion Week, India Fashion Week London, Fashion Forward Dubai and many others as its clientele.