Rediff.com  » Business » Flipkart raises $160 million in latest funding drive

Flipkart raises $160 million in latest funding drive

By Harichandan Arakali
October 09, 2013 21:45 IST
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Flipkart, one of India's largest e-commerce companies, has raised $160 million from private equity investors, taking the total to $360 million in its recent fund raising drive to build and strengthen technology and bolster its supply chain.

The Bangalore-based company had raised $200 million in July from existing investors including South Africa's media and e-commerce

company Naspers Ltd. and private equity funds Tiger Global and Accel Partners.

In the latest round of funding, investors include Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina, Vulcan Capital and Tiger Global, the company said in a statement.

Six-year-old Flipkart offers products across 17 categories and has more than 1 million unique visitors every day, according to the company statement.

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Source: REUTERS
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