comscore Flipkart raises Rs 6,000 crores in latest round of investment: Report

Flipkart raises Rs 6,000 crores in latest round of investment: Report


Flipkart has reportedly raised $1 billion or Rs 6,000 crores in the latest round of investment. The Indian e-commerce site is set to announce the investment as early as next week, EconomicTimes reports. Also Read - Nothing Ear 1 gets a temporary price cut on Flipkart: Here's the new price

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According to the publication, majority of the investment comes from existing investors including Tiger Global, Russian Internet tycoon Yuri Milner s DST Global and Accel Partners. The rest will come from new investors that are said to include Singapore’s GIC and US-based investment firm T Rowe Price. Also Read - Flipkart, the Walmart-backed e-retailer ventures into healthcare sector with Flipkart Health+

Prior to this round, Flipkart had raised $540 million and $210 million in two separate investment rounds. With a combined investment of more than $1.7 billion, the e-commerce company is now valued at over $5 billion.

Flipkart has been fighting the likes of Amazon India and Snapdeal to dominate the booming Indian e-commerce market. As of May, Flipkart has over 18 million registered users, 3.5 million daily visits and has technology that ships 5 million shipments a month. Earlier this year, it achieved $1 billion in gross sales. Recently, Flipkart also acquired Myntra in excess of $300 million, and also announced that it would invest more than $100 million in Myntra.

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  • Published Date: July 24, 2014 12:19 PM IST

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