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Flipkart raises $200 million through private equity

Flipkart raises $200 million through private equity

By Reuters | Updated: 11 July 2013 10:24 IST

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Flipkart has raised $200 million from a clutch of private equity funds, the company said on Wednesday, in what could be the single largest investment in an e-commerce company in the country.

The money was raised from South African technology group Naspers Ltd and private equity funds Tiger Global and Accel Partners, Flipkart said in a statement.

All the three companies are existing investors in the Bangalore-based firm, which will use the funds for building and strengthening technology capabilities and bolstering its supply chain, it said.

The six-year-old company offers products across 17 categories and has more than 1 million unique visitors every day, it said.

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Further reading: Flipkart, Internet