Online Shopping portal Naaptol which owns and operates TV shopping and ecommerce platform Naaptol.com, has raised Rs 343 crore in fresh funding from existing investor, Japanese conglomerate Mitsui & Co.
What the actual story is?
The fresh capital infusion will also see the Japanese strategic investor significantly ramp up its stake in the seven year-old company, to 20%, up from 5%. According to Naaptol representative, their main target is to start doing more and more programming in regional languages. They have built up six new studios and they are getting into action. They are focused on grand and varied programming. All regional languages will now have separate themes and focus. They will also expand to Marathi, Gujarati, and Bhojpuri languages.
Naaptol claims to reach about 160 million TV households in India on a daily basis and process about 20,000 orders a day.