Online shopping platform Naaptol has raised funding worth $51.7 million (Rs 343 crore) from existing investor Mitsui & Co, taking its stake in the company from 5% to 20%, valuing the company at around $259 million (up from $35 million in 2010). Naaptol will use the funds for expanding its reach, improving its supply chain, upgrade its studio to produce more content in multiple languages and its technology. With this round, the company has raised approximately $101 million so far. The company claims that it reaches 160 million TV households in India, plays over 350 hours of advertisements in multiple languages and processes 20,000 orders daily. Naaptol generated 85% of its revenue from television as of April this year. It showcases electronics, apparel, jewelry and home and lifestyle products on its platform. Previous funding: - In April, the company raised Series C funding worth $20.5 million (Rs 136 crore) from Mitsui, with participation from existing investors, which it would use towards expansion, supply chain automation and product development. Although currently shipping only in India, it seems that Naaptol might start shipping internationally, if its FAQs is anything to go by. - In late 2011, it raised $25 million (~Rs 122.5 crore) in an all cash funding round led by New Enterprise Associates, with participation from earlier investors. - In 2010, it raised $5 million (Rs 33 crore) from Canaan Partners, and had expanded its television presence to compete with home shopping networks such as STAR CJ and HomeShop18. Naaptol was started…
