The move is made in a bid to boost Myntra’s position in the fashion segment.
Myntra received the funds from Singapore-based FK Myntra Holdings Pvt. Ltd, a unit of Flipkart Ltd, in January 2016, as per the documents.
Myntra’s revenue grew by 77% to $112.8 Mn (INR 758 Cr.), for the year ended 31 March 2015. Losses, however, tripled to $167.6 Mn (INR 1,126.60 Cr) in fiscal 2015 from $57 Mn (INR 386.10 Cr) the year earlier, according to documents filed with the Registrar of Companies.