Naptol Raises Rs 343 Cr More from Mitsui
Home shopping company Naaptol has raised Rs 343 Crore in a new round of funding from Japanese conglomerate Mitsui. The latest fund raise comes on the heels of another round of Rs 136 Crore that it raised in April from the same investor.
Mitsui , which has home shopping business in Japan, Taiwan and China, has raised its stake in Naaptol to 20% with this latest round of investment.
“The company intends to use the funds for expanding its reach and building up an efficient supply chain. We will also upgrade our studio capabilities to churn out more and more content in multiple languages every day and invest in technology," Naaptol founder and CEO Manu Agarwal said.
Naaptol claims to reach of 160 million TV households in India. The company says it plays over 350 hours of commercials every day in multiple languages and process around 20,000 orders a day.
Naaptol competes with Reliance-owned HomeShop 18, Star CJ and TVC Skyshop.