After securing a commitment of USD 180 million by Hong Kong-based investment firm Steadview Capital on Tuesday, Indian e-commerce website Flipkart has closed USD 150 million from Qatar Investment Authority (QIA). According to the sources familiar with the deal, this investment is also a part of the third round of fund-raising done in November 2014.
QIA is a new investor in Flipkart, which valued the company at around USD 11 billion. It has also made investments in companies like Tiffany, Barclays, Credit Suisse and holds a USD 1.2 billion stake in Indian mobile phone carrier Bharti Airtel.
As per a TOI report, QIA joins GIC of Singapore as another investor in the online retailer. The company had received USD 210 million in Series F round in May this year. In July, the company had also raised USD 1 billion in a fresh round at a valuation of over USD 5 billion by the existing investors Tiger Global, DST and Accel Partners and from several new investors.
The other e-commerce marketplaces in the game of valuations, include Amazon which recently invested USD 2 billion to fuel its Indian growth and Snapdeal raised USD 627 million from Softbank. These three companies are receiving significant funding to be at par in the race.