Flipkart, one of India’s largest e-commerce companies, has raised $160 million from private equity investors, taking the total to $360 million in its recent fund raising drive to build and strengthen technology and bolster its supply chain.
The Bangalore-based company had raised $200 million in July from existing investors including South Africa’s media and e-commerce company Naspers Ltd. and private equity funds Tiger Global and Accel Partners.
In the latest round of funding, investors include Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina, Vulcan Capital and Tiger Global, the company said in a statement.
According to the company’s website, “Flipkart is a leading destination for online shopping in India, offering some of the best prices and a completely hassle-free experience with options of paying through Cash on Delivery, Debit Card, Credit Card and Net Banking processed through secure and trusted gateways. Now shop for your favorite books, apparel, footwear, lifestyle accessories, baby care products, toys, posters, sports and fitness, mobile phones, laptops, cameras, movies, music, health and beauty, televisions, refrigerators, air-conditioners, washing machines, MP3 players and products from a host of other categories available. Some of the top selling electronic brands on the website are Samsung, HTC, Nokia, Dell, HP, Sony, Canon, Nikon, LG, Toshiba, Philips, Braun, Bajaj and Morphy Richards. Browse through our cool lifestyle accessories, apparel and footwear brands featured on our site with expert descriptions to help you arrive at the right buying decision. Flipkart also offers free home delivery for many of our products along with easy EMI options. Get the best prices and the best online shopping experience every time, guaranteed.”