09 Jun. 16, MUMBAI: Fashion talent & tech start-up 6Degree, raises $200,000 from its investor –Indian Angel Network (IAN). With this investment, lead investor of IAN – Abhishek Agarwal will be joining the company board.
The company is planning to use this capital for boosting their technology, expanding their reach, launching first-of-its kind Enterprise Solutions for Fashion Weeks and their bespoke fashion services.
Speaking about the investment, Co-Founder & CEO of 6Degree – Nikhil Hegde said, 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. We have joined hands with Indian Angel Network as we have the same idiosyncrasy and we in unison plan to take 6Degree to greater heights.”
“Since our launch in 2015, we have progressed rapidly in this space to close our first financial year with revenues in excess of INR 1 Crore. The Business of Fashion industry is marked at over $1 Trillion and India constitutes to about 10% of the global market share,” Hegde added.
“The fashion market in India is going to be huge in next 10 years. We have already seen Indian affluent consumers spending in Indian designer wears for their key functions and also prefers wearing international brands. 6Degree collaborations with both fashioner designer and fashion week is unique in nature. In addition, their upcoming tech platform will bring efficiency into the system,” Agarwal said.
6Degree was founded in 2014 as a fashion talent & tech start-up. The company provides opportunities for fashion professionals to exhibit their talent around the world. 6Degree unifies individuals related to the fashion domain such as bloggers, brands, models, fashion designers and photographers on a single common platform.
The business already serves over 2500 fashion professionals and boasts of elite fashion weeks like Lakme Fashion Week, India Fashion Week London, Fashion Forward Dubai among others.