Mumbai: Omnipresent Retail India Pvt Ltd, which operates online e-commerce website edabba.com, said on Wednesday that Bennett, Coleman and Co. Ltd (BCCL) had bought a stake in the company.

BCCL, the publisher of The Times of India newspaper, has invested $7 million in the Mumbai-based company for a 10-15% stake, according to a person familiar with the development.

Omnipresent had previously raised $600,000 from Singapore-based CCube Angels in September 2013 and $1 million from a group of investors in April 2012.

Omnipresent is looking to tap tier two and three cities with the help of a hybrid model which consists of tie ups with retail stores and e-commece platforms.

“We plan to have 1,500-plus Trust Points (physical retail outlets run by the firm) across 60 cities in India with a sales turnover of over 100 crore for the current fiscal year," Manoj Kumar, co-founder of edabba, said in a telephone interview.

The company has partnered with offline retailers across various categories and is using their infrastructure and reach to sell products and services. Jewellery, sunglasses, silver and gold coins, personal care, beauty products and phones are the major products the company offers through its platform.

While its online retailing part functions like any other e-commerce site, the offline business works differently. Customers go to ‘Trust Points’ where attendants help them choose products and place orders. The customer makes the payment to the attendant and the product is then shipped to either the buyer’s address or to that particular shop.

Currently, edabba has a network of over 700 such retail outlets, or Trust Points, spread across more than 175 cities and selling about 250 brands.

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