Home / Knowledge / News / Apparel/Garments / Flipkart raises $700mn in fresh round of funding
Flipkart raises $700mn in fresh round of funding
27
Dec '14
One of India’s largest e-commerce retailer, Flipkart, , has raised $700 million in fresh investment from existing as well as a clutch of new investors.

The new investors include, Greenoaks Capital, T Rowe Price Associates, Qatar Investment Authority, Baillie Gifford and Steadview Capital.

This is the third time in 2014 that Flipkart has raised fresh capital. Earlier in May and July, the online retailer had raised $210 million and $1 billion, respectively.

As a result of this new round of funding, the ecommerce retailer has been able to mop up new funding totaling to $1.91 billion in 2014 alone.

Existing investors like Tiger Global, GIC, DST Global and ICONIQ Capital too have invested in this round of funding.

Flipkart in a statement said, “As with previous funds raised, these funds will be used towards long-term strategic investments in India and to build a world-class technology company, delivering superior customer experiences.”

Flipkart, incorporated in Singapore, has filed with the regulatory authority in that country - ACRA Singapore for conversion to a public company, a mandatory procedure for all companies, when shareholder numbers exceed 50.

The statement added, “This is however, is in no way indicative of any upcoming Initial Public Offering (IPO) or of any corporate activity that the company is engaged in either in Singapore or any other part of the world.” (AR)

Fibre2fashion News Desk - India


Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search