Flipkart has raised another huge round of funding from their existing investors. USD 200 Million (About 1200 crore) is the fifth round of funding for India’s largest e-commerce player who are nearing 10 million registered user mark.
This is also the single-largest round of funding for an Indian Internet company till date, according to ET report. With this round, Flipkart has now raised a total of USD 381 million or roughly about Rs. 2280 crore (at current Rupee pricing).
Flipkart was started in 2007, Sachin Bansal and Binny Bansal with a paltry amount of Rs. 400,000 (put in by self).
Flipkart’s previous Funding details:
|First Round||Accel India||2009||USD 1 Million|
|Second Round||Tiger Global||2010||USD 10 Million|
|Third Round||Tiger Global||June 2011||USD 20 Million|
|Fourth Round||Naspers / ICONIQ Capital||August 2012||USD 150 Million|
|Fifth Round||Naspers, Accel Partners, Tiger Global, and ICONIQ Capital||July 2013||USD 200 Million|
In recent times, many experts have conveyed their doubts in regards to Flipkart’s growth and future roadmap, however, Flipkart now seems to have silenced them with the USD 200 million dollar funding. The quantum of money raised also shows that all their existing investors have full faith in Flipkart’s future.
Recently, Flipkart has seen quite a bit of action, including launch of their payment gateway services called PayZippy. They also closed down their digital music library, Flyte in less than a year from launch. They also opened up Flipkart platform to third party sellers earlier in April this year to make it marketplace for sellers.
Flipkart’s funding is a great shot in the arm for Indian e-commerce Industry – It just attests the fact that this vertical still has lot of growth left, and VCs are ready to bet big!
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