Naaptol raises funding from Mitsui

By | April 28, 2015
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Naaptol-Feature-1stNaaptol Online Shopping, the company that owns Naaptol.com operates TV Shopping and e-commerce platform. The company has recently raised $21.4 million from Mitsui & Co, a Japanese conglomerate.

Naaptol is leading online store, one can buy latest mobile phones, digital cameras, furnishings like
bedsheets, watches, accessories, gifts and many more. The company offers EMI, Cash on Delivery and facilitates easy returns.

Naaptol targets commission revenue of Rs.350 crores for the fiscal ending 2016. This will be an
increase of 54% over the fiscal of 2014-15 figures. They derive about 85% of revenue from television, an ambitious plan to increase 90% this fiscal.

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Mumbai based Naaptol was founded in 2008 by Manu Agarwal. He is Chief Executive Officer of the
company. Manu is been a serial entrepreneur and graduated in Bachelor of Technology in Electronics from Indian Institute of Technology, Kanpur in 1992 and went to do his Masters in Computer and Electronics from University of Minnesota in 1994.



He started his career as Project Leaders in Waferscale Integration in 1994. Manu was responsible
Flash Memory chip design, he developed new generation row decoders and programmable logic
devices. The company was acquired by SGS Thompson.

In 1998, he founded Design Expo Network P Ltd/ SLMsoft. As Chief Executive Officer of the
company, he was instrumental in developing several websites like Shubhyatra, Criclive and Sawaal.
Manu has developed large scale messaging solutions. The company was taken over by SLMSoft in
2003.

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Manu founded ANMsoft Technologies in July 2003 for which he was the Chief Executive Officer.
The company has 4 verticals, Online travel – ANMsoft has large repository of components of Flights, hotels, car rentals and packages for creation of business to customers and business to business booking engines. Online retail – ANMsoft has developed a comprehensive e commerce platform that replaced IBM WCS solution at the largest Indian e commerce site. Online media – ANMsoft has a range of solutions to enable online classifieds, collaborative content generation, publishing, subscription and distribution. Loan processing and payment systems – ANMsoft develops products for global providers of workflow oriented and scalable loan origination solutions and payment options that includes credit and smart cards. The company has an employee strength of 200 members.

He founded Naaptol in 2008 which was started as product research and comparison shopping engine for the Indian market. Slowly the company adding home shopping business in the country with the strong customer reach via print, TV and internet.

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Naaptol has received $54.9 million in 3 rounds from 4 leading private equity investors like Canaan
Partners, Silicon Valley Bank, New Enterprise Associates and Mitsui & Co. Latest series ‘C’ funding of
$21.4 million saw the participation of existing investors participation.

Naaptol will use the funding for expansion purpose and Manu Agrawal, CEO 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.”



On the other hand Mitsui has substantial stake in Japanese TV shopping retailer QVC Japan and in
other shopping networks in China and Japan. Naaptol is competing with HomeShop18 – Reliance
owned shopping channel, TVC SkyShop and StarCJ. Last year Star sold 50% stake in StarCJ, home
shopping network for an estimated Rs. 300 crore to global private equity firm Providence, after they
received approvals from FIPB, the regulatory agency.



Author: Venu V

i look for minute details, whatever i do. Avid reader, read lot of Hindu mythology, Technology and General news. Extreme foodie and like to taste new types of vegetarian food. Travel a lot, like to explore new places which are not explored by anyone. Participate in adventure sports like river rafting, grappling and hot air ballooning.