Funding story
Home shopping platform Naaptol made a huge splash recently when it succeeded in raising Rs. 343 crore from Japanese conglomerate Mitsui & Co. Thus, the Japanese investor’s stake in the company has risen from 5 to 20%, strengthening the ties with its existing investor. An earlier round of funding involving Mitsui had seen Naaptol raise $21.4 million in series C funding, in a round which also saw involvement by the likes of New Enterprise Associates, Canaan Partners and Silcon Valley Bank. Naaptol seeks to use this involvement to expand its services and reach.
What is Naaptol?
Founded in 2008 by Manu Agarwal, theMumbai-based company is a comprehensive home shopping marketplace. Products from a huge range of categories are available. The categories on offer include Jewellery, Bedsheet, Shoes and a variety of appliances which seek to benefit the average middle-class consumer. Popular categories, such as sarees,blankets and kitchen appliances are highlighted separately. The online platform also highlights available discounts, and allows for home delivery. Home deliveries can be tracked effectively via the site itself. As an online marketplace, it allows for the purchase of third party products. It is also a veritable tele-commerce giant ; its TV operations have enabled it to reach out to over 160 million households, with 350 hours of commercials being played each day. The channels are beamed on 9 regional languages. This allows Naaptol to have a phenomenal reach.
What we think
Given the ever-expanding television network in India, Naaptol’s initiatives are crucial in diversifying commercial operations in general, in India.
The key to expanding telecommerce is to broaden reach. With the raised funding expected to be used to add value to the marketing content of the channels which Naaptol uses, telemarketing in India looks to have a bright future.
Naaptol’s website can be visited here for further information, or to buy the products hosted there.
