Indian fashion e-commerce company Myntra has raised $50 million

Myntra Logo

Myntra is an Indian fashion e-commerce company that has raised $50 million in funding led by Premji Invest. This new round of funding arrives on the heels of news that Myntra was going to merge with India’s largest e-commerce company Flipkart.

“We are confident of achieving $1 billion GMV (Gross Merchandise Value) by 2016 and will be by far the largest fashion destination in India,” stated Mukesh Bansal, co-founder and CEO of Myntra, as quoted by TechCrunch.

Myntra launched in 2007 and raised around $75 million from investors like Accel Partners and Tiger Global.

[Source: TechCrunch]

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