Flipkart has raised USD 200 million from its existing investors including Naspers, Accel and Tiger Global. It is the largest amount to be invested in an e-commerce company in India. The funds will be used for building and strengthening Flipkart’s technology capabilities, bolstering the robust supply chain and developing the talent pool.
Previously, Flipkart raised a $150 million funding round in August 2012 and since then has been coming up with new developments. Flipkart launched its marketplace earlier this year which is essentially a virtual mall giving shoppers access to multiple brands and sellers under one roof. And more recently, they launched the online payment solution- PayZippy.
With this investment, Flipkart aims to reach their goal of $1 billion GMV by 2015 and also aim for bigger milestones in the future.
Sachin Bansal, Co-founder and CEO of Flipkart.com said,
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.
Some interesting stats:
- Registered users – 96 lakhs
- More than 10 lakh unique visitors every day
- Peak items shipped in a day – 1.3 lakhs (June 2013)
Flipkart also has a strong developer culture which is showcased via their annual Hack Days. See our coverage of the Hack Days for 2011 and 2012.
Website: Flipkart