India-Based E-Commerce Company Flipkart Raises $160 Million
Flipkart is an e-commerce company that raised $200 million several months ago and now they have raised another $160 million. New investors Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina, and Vulcan Capital participated in this round along with existing investor Tiger Global.
Flipkart has raised a total of $360 million for their fifth round of funding. This is the largest amount of funding raised by an Internet company based in India. Flipkart will be using the funding to improve their technology and supply chain. They will also hire more talent and improve their end user experience.
Flipkart has raised a total of $541 million across 5 rounds of funding. Flipkart sells men and women’s apparel, footwear, sports and fitness goods, and home goods. The company also started selling home appliances like water purifiers and vacuum cleaners.