Naaptol Online Shopping has raised a new round of funding from Japanese conglomerate Mitsui. Existing investors New Enterprise Associates, Canaan Partners and Saama Capital also participated. The amount raised was not disclosed.
“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,” said Manu Agarwal, founder and CEO, Naaptol. The new fund will be used to upgrade its television studio capabilities, expand the supply chain and invest in technology.
Naaptol is a multi-channel shopping company that has presence across television, internet and print. It facilitates sales of products from categories like electronics, apparel, jewellery to home and lifestyle products.