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Flipkart, India’s largest e-commerce platform, today announced that it has raised $200 million, one of the single largest round of funding seen in the Indian e-commerce segment, from all its existing investors.
Its existing investors include, Naspers, Accel and Tiger Global. The funds will be used for building and strengthening Flipkart’s technology capabilities, bolstering the supply chain and developing the talent pool.
"This investment validates the belief that our investors have not only in our capabilities as a market leader – but also in the potential of e-commerce in India. We are building a world-class organization that has always led from the front, taking advantage of and even creating a plethora of opportunities for the e-commerce industry. With this investment, we can now take Flipkart to the next level, pioneering technology and supply-chain innovations that will change the face of online shopping. This will not only enable us to reach our goal of $1 billion GMV by 2015 but also help us achieve bigger milestones in the future," said Sachin Bansal, Co-founder and CEO of Flipkart.com.
Flipkart as of now has 96 lakh registered users, it gets more than 10 lakh unique visitors every day on to its website and has shipped 1.3 lakh items in a day. Flipkart that started as book shopping zone, has added categories like apparel, footwear, toys, accessories, sports and fitness and eBooks.
"Over the last six years Flipkart has grown in strength and today we are a company that has defined e-commerce in India – and we continue to remain leaders in this space. The growth potential is enormous and our investors share this vision. Each round of funding has come at a strategic point during our growth. Our aim is to continuously improve the shopping experience for customers and provide sellers with a highly scalable platform on which to do business," said Binny Bansal, Co-founder and COO of Flipkart.
This funding takes the total funds raised from VCs to $380 million. In 2012, the company had raised $150 million, the bulk of this investment was raised from Nasper.
