Flipkart's Latest Funding $160 M

FlipKart supposed to be India's version of Amazon has successfully raised additional round of funding of $160 million. This is flipkart's fifth round of funding. This comes just few months after $200 million raise.

Although Mr. Bansal has denied the plans for D-Street debut, but market suppose FlipKart to move that way soon, possibly in next year.

FlipKart, based in bangalore, was founded in 2007 by Sachin Bansal and Binny Bansal, alumni of IIT Delhi and veterans from Amazon.com. Till date FlipKart has raised a total of $541 million in five rounds of financing, which was initiated by a $1 million investment in 2009. The latest round was started by a $200 million investment by Naspers, South African internet giant, Accel Partners, Tiger Global and Iconiq Capital.

This second trance of $160 million is led by external investors Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina and Vulcan capital along with participation from Tigal global, internal investor.

FlipKart has currently approximately 500 sellers on-board. Company plans to reach 10,000 figure by end of FY 15; as per Mr. Bansal. As per Mr. Bansal they are also looking to acquire some value generating companies. 

At a time when e-commerce giant Amazon has entered Indian market, investors were skeptical about future of Indian e-commerce companies. To compete with such a big giant you need to feed in a local spoon.  As of last year FlipKart was reportedly losing Rs. 50 crore per month. 

But the latest funding, which is largest funding by any Indian e-commerce firm, has kept its critics' mouth shut. It again opens the door of Indian e-commerce market with investors waiting outside. Although restrictions and local problems are also intact, which are enough to fail big plans of many e-commerce firms in country. 

Advit Research's upcoming report on E-Commerce in India will further look into these all aspects and will touch other intricacies that may scrap Flipkart's hidden plans.

Advit research is an India based startup, founded in 2013. Company specialize in Marketing and Financial Research. 

Company provide research derived through plethora of information from a wide range of sources, processed through advanced information management tools, sophisticated analytical systems and industry standard methodologies.