Mumbai, November 24, 2015: India’s leading multi- channel home shopping company, Naaptol Online Shopping Private Limited, has raised Rs.343 Crore in a new round of equity funding from Japanese conglomerate Mitsui & Co. This is in addition to Rs. 136 Crore, which the company raised earlier in April this year.
This latest financing is a significant step-up, as it will increase Mitsui & Co’s stake in Naaptol from 5% to 20%. The deal underlines the intensity of Naaptol’s imminent growth in the home shopping industry.
Manu Agarwal, Founder and CEO, Naaptol said, “The company intends to use the funds for expanding its reach and building up an efficient supply chain. We would also upgrade our studio capabilities to churn out more & more content in multiple languages every day and invest in technology. We are at an inflection point where transformational use of technology and expertise will define our future. This fund raise comes at an exciting time for us.”
Naaptol reaches 160 million TV households in India on a daily basis. The company plays over 350 hours of commercials every day in multiple languages. It facilitates sales of a gamut of products from a wide range of categories like electronics, apparel, jewellery to home and lifestyle products. Naaptol is the only independent multi-channel shopping company in India that has presence across leading channels of television, internet, print & mobile.
Mitsui & Co. has home shopping business in Japan, Taiwan & China.
Founded in 2008, Naaptol is India’s first and fastest growing home shopping brand. It is the only brand that offers services over multiple touch points including Print, TV and Web, Mobile App and Direct Marketing et al. Naaptol is an only Home Shopping Company that speaks to its consumers in 9 languages. Naaptol has the highest delivery reach among all home shopping companies in India. Naaptol currently process around 20,000 orders a day. Listed under some of the very first home shopping companies in India, Naaptol largely caters to diverse customer preferences through a gamut of products aimed at simplifying their life. It offers products from a wide range of categories such as, Kitchen essentials, Home Décor, Fashion & Lifestyle, Automotive care, Electronics & Communication devices, to name a few.
Log on to www.naaptol.com or download Naaptol App from Google Play and App Store for more information on the current product line up.