After finally acquiring fashion online retailer Myntra last week for more than $330 Mn, online retailer Flipkart has raised $210 Mn in a new funding round led by DST Global, the round also saw participation of existing investors Tiger Global, Naspers, and Iconiq Capital.
Sachin Bansal, co-founder and CEO, Flipkart, said, “Led by a visionary like Yuri Milner, DST brings a global perspective into each of their Internet investments along with a unique understanding of the businesses they invest in and we look forward to working with their team.”
Binny Bansal, co-founder and COO, Flipkart, “We met our GMV run rate of $1 Bn, a year before target, reinforcing our leadership position. The funding further strengthens our capabilities to deliver on our next stage of growth.”
Flipkart’s other investors include Accel Partners, Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina and Vulcan Capital.
Recently, Snapdeal has also raised $100 Mn (Rs 590 crore) from a group of five investors including Azim Premji’s family office.
Founded in 2009 by Yuri Milner DST Global is one of the leading investment groups globally to exclusively focus on Internet related companies.