- Home shopping and
e-commerce firm Naaptol Online Shopping Pvt. Ltd has raised Rs 343 crore in a
fresh round of equity funding from existing investor Japanese conglomerate
Mitsui & Co., the company said in a statement.
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-
The investment will
increase Mitsui & Co’s stake in Naaptol to 20% from 5%. In April it had
- Home shopping and
e-commerce firm Naaptol Online Shopping Pvt. Ltd has raised Rs 343 crore in a
fresh round of equity funding from existing investor Japanese conglomerate
Mitsui & Co., the company said in a statement.
-
- The investment will
increase Mitsui & Co’s stake in Naaptol to 20% from 5%. In April it had
raised Rs 136 crore from Mitsui & Co, which has business interests ranging
from metals and automobiles to finance, electronics and energy, the Mint reported.
-
- The company will use
the funds to expand its reach and enhance supply chain and technology. “We are
at an inflection point where transformational use of technology and expertise
will define our future,” said Manu Agarwal, founder and chief executive
officer. “We plan to expand more and more on to the regional side whether it is
from media, content, product distribution or call centre perspective.”
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- Founded in 2008,
Naaptol offers services over multiple touch points, including print, TV and
web, and mobile app. It offers its services in nine languages.
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- The company, which
operates as an e-commerce website under the same name, claims it also reaches
to 160 million TV households in India
on a daily basis.
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- Naaptol facilitates
sale of products across categories like electronics, apparel, jewellery to home
and lifestyle products and currently claims to process 20,000 orders a day.
