Flipkart raises $210 mln fresh funding from four investors-Reuters

(Reuters) – Flipkart, India’s largest e-tailer, raised $210 million in a fresh round of funding from a group of four investors led by internet-focused investment group DST Global, it said in a statement on Monday.

Last week, Flipkart, which is popular for selling books and electronics online, acquired the country’s biggest fashion portal Myntra for around $300 million.

Indian e-commerce companies are expanding and raising capital after Amazon, which entered India last June, has drawn up the battle lines by slashing prices and launching next-day delivery.

Set up by two ex-Amazon employees in 2007, Flipkart has raised between $540-$560 million, according to industry estimates which valued the company at about $1.6 billion at the end of 2013.

Related Posts

Leave a Reply

PEHUB Community

Join the 12500 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

PE HUB News Briefs

RSS Feed Widget

Marketplace

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget