Naaptol raises INR 136 crore in third round of funding

Tele-shop and ecommerce platform, Naaptol has secured a staggering Rs. 136 crore fresh funding from Japan based Mitsui, one of the largest business groups in the world. In Naaptol’s series C (third round) funding, which wrapped up last month, existing investors such as New Enterprise Associates, Silicon Valley Bank and Canaan Partners also chipped in.

It is yet another example of how global investors are showing great interest in Indian ecommerce industry. Also, how it’s raining funds in all sectors & sizes of etail, be it established players or young players.

Utilization of Funds

While speaking about this new development, Founder and Chief Executive of Naaptol, Manu Agarwal said, “We are already in 24/7 format across languages, and in this fiscal, we hope to be the largest home shopping network in India. Automation of our supply chain is also right on top of our agenda. We will be focusing on doing more creatives across more products.”

The ecommerce portal plans to touch INR 530 crore revenue in 2015-2016 financial year, 54% higher than 2014-15 revenue. The founder said, “We’re not losing a significant amount of money, and expect to get into profitability by the end of this (financial) year.”

Naaptol’s journey

Located in Mumbai, India, Naaptol started as a home shopping company in 2007. It ventured in the online space with product research and price comparison service in 2008, followed by online marketplace in 2009. The second largest player in the TV shopping, gradually the company climbed up and now gets 75,000 calls and Rs 4 crore of orders a day!

The company had raised INR 245 crores in earlier rounds of funding. With fresh capital, Naaptol is now looking forward beat its competitors across online & offline platforms, namely Homeshop 18, TVC SkyShop, StarCJ and other online marketplaces.