Flipkart Raises $210M In New Funding From DST Global And Returning Investors — techcrunch.com

Flipkart, India’s largest e-commerce company, announced today that it has raised $210 million in a new funding round led by DST Global, with returning investors Tiger Global, Naspers, and Iconiq Capital also participating. The announcement comes on the heels of last week’s news that Flipkart will acquire online fashion retailer Myntra in a deal reportedly worth $300 million. The new funding brings Flipkart’s total raised so far to $750 million. The company currently has 18 million registered users and 3.5 million daily visitors, but it faces stiff competition from other companies, including Amazon and Snapdeal, as they strive to pull ahead in India’s ecommerce market, which is expected to grow seven times to $22 billion in the next five years.

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