Company Name : Naaptol
Funding Amount : Rs 343 Crore
Investor(s) Mitsui & Co . .
Funding Round : Not Disclosed
Online shopping firm Naaptol secures Rs 343 crore from Japanese-based shopping portal Mitsui & Co. Mitsui which originally owned a 5% stake in Naaptol will now own a 20% share.
Mitsui had previously invested Rs 136 crore in Naaptol in April this year. The company was founded by Manu Agarwal in 2008 and started off with a seed capital of Rs 50 Lakhs.
The company tweaked their business model into a marketplace later in 2009 and reported a turnover of Rs.10 Crore in the same year.
“The company intends to use the funds for expanding its reach and building up an efficient supply chain. We would also upgrade our studio capabilities to churn out more and more content in multiple languages every day and invest in technology,” said Naaptol founder and CEO Manu Agarwal.