India’s biggest e-commerce portal on Wednesday stated that it has received a fund of $160 million (~Rs.990 crore), just three months since it had raised $200 million, rounding off the total funding seed to a mammoth $360 million. The new investors participating in this phase include Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina, Vulcan Capital Management and one of Flipkart’s earliest investors – Tiger Global Management. Other investors of Flipkart include Accel Partners, Iconiq Capital, and MIH (a part of Naspers Group).

flipkart investors

Sachin Bansal, Co-Founder and CEO of Flipkart stated on this development- “We are excited to work with a group of investors who strongly believe in our business strategy and are completely aligned with our long-term goals. India’s e-commerce market is at a critical inflection point and this additional capital will allow us to further expand our leadership position.”

The garnered funds shall be used to further develop Flipkart’s technology and supply chain capabilities, nurture the existing talent pool and better the overall end-user experience.

Flipkart Facts: 2013

  • Registered users – 1 crore
  • More than 10 lakh unique visitors every day
  • Peak items shipped in a day – 1.3 lakhs (June 2013)
  • Launched PayZippy, an online payments solution
  • New categories that the compay has entered (June 2012 – October 2013): Apparel, Footwear, Toys, Sun glasses, Home furnishings, Accessories, Sports and fitness, and eBooks