One of the major Indian Online retailers, Flipkart has raised another round of Series D funding of $ 150 million from two new Investors; South African media group Nasper and California based Iconiq capital besides involvement by existing investors Tiger Global and Accel Partners, according to the report by TimesofIndia. Nasper’s Indian arm MIH India is pumping around $90 Million, with Nasper leading the funding round.
ICONIQ capital which is a global multi-family office, head quartered in San Francisco, California has biggies like Facebook Founder Mark Zuckerberg among its clients.
According to a report by Reuters, Sachin bansal, Co-founder and CEO of Flipkart.com stated, “We are excited to complete this round of funding, which would fuel our growth plans and help us achieve our stated ambition of hitting $1 billion in gross merchandise value by 2015.”
Since 2007 with the inception, Flipkart has raised $ 181 million from Accel & Tiger Global in four rounds, with last round of $150 million raised in January 2012 at $850 million valuation. Flipkart clocked the revenues of INR 500 crore in FY 11-12.
The etailer started initially with the main focus on Books category has now expanded its domain to movies, music, games, mobile handsets and electronics, totally operating into 14 categories. Company has also acquired WeRead, a social book discovery tool in 2010, Mime360, a digital content platform company in 2011, Chakpak.com, a Bollywood news site in 2011 and Letsbuy.com in 2012.Category Investments News