One97 Communications has invested undisclosed amount in a new round of funding in NDTV’s ecommerce venture for gadgets, Gadgets 360°.
This news came in just a few days after NDTV has raised undisclosed amount for Gadgets 360° and Fifth Gear Auto (Its ecommerce ventures) led by a group of investors at a combined valuation close to $80 Mn.
Gadgets 360° is currently known as NDTV Gadgets, it receives over 20 Mn unique visitors every month. It will provide a curated marketplace for exclusive launches of mobile phones and other electronic gadgets.
“NDTV Gadgets has always been the most credible go-to-destination for all gadget enthusiasts in India and it is very exciting to see them moving to a transactional model with Gadgets 360°”, said Vijay Shekhar Sharma, Founder – One97 & Paytm, “we are looking forward to partner them in this journey and creating a compelling market-place experience which marries content, curation and commerce.”
Announcing the additional funding, Kawaljit Singh Bedi, Managing Director, Gadgets 360° said, “I am personally very excited to have such great investors in Gadgets 360° and to leverage their experience in building this into a large and meaningful business in India and globally. The investors have been pioneers in their field and with their incredible knowledge of building big businesses, they will be crucial for our success. ”
Its investors include Inflexionpoint (Cofounded by John Scully, former Apple CEO), Pramod Bhasin (Founder, Genpact), Sixth Sense Ventures (Founded by Nikhil Vora), Vindi Banga (Former Chairman, Unilever), Hiro Mashita (Founder and Director of M&S Partners). Gadgets 360 is now valued close to $50 Mn.
NDTV also appointed of Bhawna Agarwal as the CEO of Gadgets 360°. With over 16 years of experience in leading startups of the country, Bhawna has been instrumental in setting and scaling up leading brands such as Yatra.com, Seventymm among others. She has been associated with LuxuryRetail in the past and is also on the advisory boards of OYO Rooms, VentureFund among others.
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