<p>Online retailer Flipkart has raised $200 million from its existing investors including Naspers, Accel and Tiger Global in a deal that seems to be the largest in Indian e-commerce history.<br /><br /></p>.<p>This investment comes at a time when the sector is finding it difficult to break even with operations cost going up and customer seeking even further discounts on products.<br />According to the company, the funds will be used for building and strengthening Flipkart’s technology capabilities, bolstering the robust supply chain and developing the talent pool.<br /><br />Flipkart Co-founder and CEO Sachin Bansal said, “This investment validates the belief that our investors have not only in our capabilities as a market leader – but also in the potential of e-commerce in India. This will not only enable us to reach our goal of $1 billion GMV by 2015 but also help us achieve bigger milestones in the future.”<br /><br />In August this year, Flipkart had raised close to $150 million in its 4th round of funding. Apart from existing investors Tiger Global and Accel Partners, two new investors - MIH (part of Naspers Group) and ICONIQ Capital - had participated in that round through a minority stake. MIH also got a representation on the board.<br /><br />The company has 96 lakh registered users and has more than 10 lakh unique visitors every day. Recently, it launched PayZippy, an online payments solution, currently available for Indian merchants.<br /><br />"The growth potential is enormous and our investors share this vision. Each round of funding has come at a strategic point during our growth. Our aim is to continuously improve the shopping experience for customers and provide sellers with a highly scalable platform on which to do business.” Flipkart Co-founder and COO Binny Bansal said.</p>
<p>Online retailer Flipkart has raised $200 million from its existing investors including Naspers, Accel and Tiger Global in a deal that seems to be the largest in Indian e-commerce history.<br /><br /></p>.<p>This investment comes at a time when the sector is finding it difficult to break even with operations cost going up and customer seeking even further discounts on products.<br />According to the company, the funds will be used for building and strengthening Flipkart’s technology capabilities, bolstering the robust supply chain and developing the talent pool.<br /><br />Flipkart Co-founder and CEO Sachin Bansal said, “This investment validates the belief that our investors have not only in our capabilities as a market leader – but also in the potential of e-commerce in India. This will not only enable us to reach our goal of $1 billion GMV by 2015 but also help us achieve bigger milestones in the future.”<br /><br />In August this year, Flipkart had raised close to $150 million in its 4th round of funding. Apart from existing investors Tiger Global and Accel Partners, two new investors - MIH (part of Naspers Group) and ICONIQ Capital - had participated in that round through a minority stake. MIH also got a representation on the board.<br /><br />The company has 96 lakh registered users and has more than 10 lakh unique visitors every day. Recently, it launched PayZippy, an online payments solution, currently available for Indian merchants.<br /><br />"The growth potential is enormous and our investors share this vision. Each round of funding has come at a strategic point during our growth. Our aim is to continuously improve the shopping experience for customers and provide sellers with a highly scalable platform on which to do business.” Flipkart Co-founder and COO Binny Bansal said.</p>
