Paytm invests in NDTV's Gadgets 360° via parent firm
Bhawna Agarwal has been appointed CEO for Gadgets 360°, which has raised funding at a valuation of close to 50 million USD.
One97 Communications (owner of consumer brand Paytm) has announced its investment in Gadgets 360°, NDTV's e-commerce venture.
Gadgets 360° has raised funding at a valuation of close to 50 million USD. Its other investors include Inflexionpoint (co-founded by John Scully, former Apple CEO), Pramod Bhasin (founder, Genpact), Sixth Sense Ventures (founded by Nikhil Vora), Vindi Banga (former chairman, Unilever) and Hiro Mashita (founder and director of M&S Partners).
NDTVGadgets.com claims to be India's largest technology website with over 20 million monthly unique visitors (as per Google Analytics).
Nikhil Vora, founder and CEO of Sixth Sense Ventures, says, "I am most excited to be investing in Gadgets 360°, which has a unique model of being the only curated launch platform for all gadgets. With over 3,000 gadgets launched every year in India, I believe there is a case for a credible platform to become the brand which we see in the form of Gadgets 360°."
Announcing the additional funding, Kawaljit Singh Bedi, managing director, Gadgets 360°, comments, "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."
NDTV also announced the appointment of Bhawna Agarwal as the CEO of Gadgets 360°. With over 16 years of experience in leading startups in the country, Agarwal has been instrumental in setting and scaling up leading brands such as Yatra.com and Seventymm, among others. She has been associated with luxury retail in the past and is also on the advisory boards of OYO Rooms and VentureFund, among others.
Vikram Chandra, group CEO, NDTV, states, "Gadgets has become one of the most exciting areas of expansion for the NDTV Group. We had built a powerful brand connect in this, thanks to our digital platform NDTV Gadgets and our TV programming, with popular shows like 'Gadget Guru' and 'Cell Guru'. I am delighted to welcome Paytm and Vijay Shekhar Sharma as an investor in Gadgets 360°."
"NDTV has always been associated with the most credible reviews and analysis of gadgets and all things tech. This is a great step forward to complete the circle 360 degrees," says Rajiv Makhni, managing editor, technology, NDTV, and the anchor of 'Gadget Guru'.