Flipkart raises $200 million from private investors

by CXOtoday News Desk    Jul 10, 2013

Private investment

Flipkart, an Indian e-commerce platform, has raised $200 million from its existing investors including Naspers, Accel and Tiger Global. It is the largest amount to ever 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.

“With this investment, we can now take Flipkart to the next level, pioneering technology and supply-chain innovations. 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.com is one of the largest e-commerce platforms in India and has been operational since 2007.  According to statistics offered by the company, it has 96 lakhs registered users and more than 10 lakh unique visitors every day. During peak season, it has shipped 1.3 lakhs items in one day, (June 2013).  It also launched PayZippy, an online payments solution.

“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.