wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

Naaptol Raises $25M From New Enterprise Associates & Existing Investors

Naaptol Online Shopping, the company that runs e-commerce portal Naaptol.com has raised $25 million (Rs 122.5 crore approx.) in an all cash funding round led by New Enterprise Associates (NEA), with participation from earlier investors Canaan Partners and Silicon Valley Bank, reports VC Circle. Following the funding, NEA’s Bala Deshpande will join the board of directors at Naaptol.com.

Naaptol intends to use the funds to hire more people, and for investing in its internet business, supply chain and inventory. It had started as an e-commerce site and diversified into home shopping with print ads and television shopping spots. It was part of the Times Private Treaties,using advertising inventory of the group’s publications in exchange for equity.

Naaptol had last raised Rs 33 crores from Canaan Partners in 2010, and had expanded its television presence to compete with home shopping networks such as  STAR CJ and HomeShop18. At the time of its last funding, we had said that we on’t be surprised if it raises more funds in the coming year. The amount of funding indicates that it would intend to scale up to close the gap with other big home shopping players as well as e-commerce players like Flipkart and Letsbuy.

It follows a market-place like model and claims to have more than 500 stores and 470 brands selling products across various categories including mobiles, cameras, electronics, kitchen appliances, jewellery, apparel, books and others. It also sells products on other home shopping ventures including Indiatimes Shopping and HomeShop18.

The company had also recently launched a private sales site  Naaptol Club offering deals on  fashion apparels like denims, formals and accessories like sunglasses, watches and perfumes from different brands including Guess, Levi’s, Numero Uno, Puma, Revlon, claiming  to offer an 80-90% discount.

 

Advertisement. Scroll to continue reading.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ