E-commerce leader Flipkart received an additional $160 million from new investors Morgan Stanley Investment Management, Dragoneer Investment Group, Sofina and Vulcan Capital as well as existing investor Tiger Global. The latest investments takes the total amount raised in the fifth round of funding to $360 million. Flipkart had earlier raised $200 million from existing investors including Naspers. The funds will be used to further build Flipkart's technology and supply chain capabilities, develop the talent pool and enhance the end-user experience.
Flipkart's other investors include Accel Partners and ICONIQ Capital. Flipkart has raised close to $400 million in four rounds of funding so far. Flipkart offers products across more than 17 categories like books, apparel, footwear, toys, accessories, sports and fitness and e-Books.
Source: Economic Times
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