One97 Communications (owner of consumer brand Paytm) joins other investors to invest into Gadgets 360° - An NDTV e-commerce venture.
Vijay Shekhar Sharma, Founder - One97 and Paytm said, "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 move to a transactional model with Gadgets 360°. We are looking forward to partnering them in this journey and creating a compelling market-place experience which marries content, curation and commerce."
Other 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).
Nikhil Vora, Founder and CEO of Sixth Sense Ventures said, “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 that 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° 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. ”
Gadgets 360° has managed to raise funding at a valuation of close to USD 50 million.
Vikram Chandra, Group CEO, NDTV stated, “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 NDTVGadgets.com 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 also announced the appointment of Bhawna Agarwal as the CEO of Gadgets 360°. With over 16 years of experience in leading start-ups 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 and VentureFund.
“NDTV Gadgets is a very popular and well respected platform amongst gadget lovers in India and is at a very interesting stage from where it can scale up very well. The new platform will be the game changer for the category and I am very excited to be a part of this journey to help take the category to the next level,” said Bhawna Agarwal, CEO, Gadgets 360°.