Canaan Partners invests in Naaptol

Naaptol, a leading home shopping platform in India, has announced the closing of Series A round of Venture Capital funding from Canaan Partners, a multibillion-dollar, global, venture capital firm.

Manu Agarwal, CEO Naaptol said, "Naaptol is a platform that brings together buyers, sellers as well as media companies to facilitate shopping from home. We are delighted to work with a leading Venture Fund like Canaan Partners and the capital raised will be applied directly to enhancing our capabilities and expanding into multiple media formats. We are looking to partner with leading media houses in the country to grow the home shopping category."

Naaptol is the fastest growing company in the home shopping space and offers services over multiple touch points including print, TV and internet. Currently, Naaptol has a pan India reach of over 200M households and facilitates fulfillment and delivery through its nationwide logistics tie ups.

Commenting on the investment, Alok Mittal, Managing Director- Canaan Partners India said, "Building a leading home shopping platform requires capital in the range of Rs 150 Crores and Canaan Partners will contribute a significant piece of this. This is our first investment in the home shopping space in India, and we are looking forward to the difference Naaptol is set to make."


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