According to reports Flipkart is seeking investors for a new funding round to the tune of around $1 billion (roughly Rs. 6,713 crores).
In May 2014, Flipkart received $210 million from DST Global, in July 2014 it raised $1 billion led by existing investors Tiger Global and South Africa’ss media group NaspersÂ and in May 2015 it raised $550 million from some of its existing investors. Flipkart’ss last fundraising round in May 2015 had pegged its valuation at $15 billion
The details as to where Flipkart will use this funding is still unclear, however, it is quite obvious that they will make every investment needed to maintain their top position in red-hot Indian eCommerce market.
This will be Flipkart’s 8thÂ round of funding. Till date Flipkart has managed to raise a total of USD 1.751 billion funding and has valuation over $15 billion.