The funding round also saw participation from existing investors New Enterprise Associates (NEA), Canaan Partners and Saama Capital.
Naaptol Online Shopping Private Limited, a leading multi-channel home shopping company, has raised a new round of equity funding from Japanese conglomerate Mitsui & Co.
The funding round also saw participation from existing investors New Enterprise Associates (NEA), Canaan Partners and Saama Capital. Terms of the transaction were not disclosed.
Jefferies India Private Limited acted as Sole Financial Advisor to Naaptol.
Founded in 2008, twice VC funded firm Naaptol is a virtual home shopping brand. It offers services over multiple touch points including Print, TV and Web, Mobile App and Direct Marketing. Naaptol has presence across leading sales channels of television, internet and print. It facilitates sales of a gamut of products from a wide range of categories like electronics, apparel, jewellery to home and lifestyle products.
Manu Agarwal, founder and CEO, Naaptol, said, “Naaptol is at an important juncture in its evolution with a strong presence on television through advertisements on third party channels as well as on 24-hour television shopping channels. We are glad to partner with Mitsui & Co. as we expand our business in our journey to become the largest home shopping network in the country. Our existing investors NEA, Canaan and Saama Capital have also participated in the funding round and continue to demonstrate confidence in our business model. We plan to use the funds raised to upgrade our studio capabilities, expand the supply chain and invest in technology.”