Flipkart Raises Another Round; Valued At $10 Billion

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Flipkart $600 Million Funding

India’s biggest e-commerce player Flipkart has raised another $500-600 million fresh financing round led by its existing large investors at a whooping pre-money valuation of $10 billion.

According to a TOI report, Tiger Global, South Africa’s Naspers and Yuri Milner’s DST Global, along with others, have pumped in $50-100 million each in the new round with a new investor chipping in a nominal amount. At the company’s board meet in Singapore recently, the fund-raise was formalized and an announcement could be made very soon.

This is the third fund raising round by Flipkart in this year alone. They had raised eye-popping $1 billion in July and $210 million from DST Global in May 2014.

“Although there was a lot of interest from new investors, Flipkart was not keen on raising more money at this point. This new round is largely being done by the large existing investors,” said a source to TOI.

With this fresh round of funding Flipkart has raised a total of $2251–2351 Million till now.

Last month, Japan’s SoftBank invested $627 million into online retailer Snapdeal, which is the evidence that though the e-commerce market is running with great loss but the VCs have the foresightedness that it’ll again take pace in the coming years.

Engineering student by education and Entrepreneur by choice. Asish is a TCS Best Student Awardee, NDTV featured student entrepreneur and International School of Entrepreneurship Education awardee. He also worked with many startups and big companies for their business development and strategical growth. Asish has been heading The Startup Journal since its inception in 2014.