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

UK GDP growth to stay steady but subdued: CBI

Textiles | On 8th Dec 2017

UK GDP growth to stay steady but subdued: CBI

The gross domestic product (GDP) in the United Kingdom (UK) will grow ...

Amazon launches operations in Australia

Apparel/Garments | On 8th Dec 2017

Amazon launches operations in Australia

US online retail giant Amazon recently unveiled its business in...

Courtesy: G-III Apparel

Apparel/Garments | On 8th Dec 2017

Q3 FY18 G-III Apparel sales up 16% to $1.02 billion

For the third quarter of fiscal 2018, net sales of G-III Apparel...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search