Flipkart has raised another round of funding, according to a report by Economic Times, one of the leading business newspapers in India. And this time the amount is mind-boggling! The India e-commerce giant has raised US$1 billion in the latest round of funding, the report says.
It said that the deal is done and the official announcement should come in a week or two. The investment is one of the biggest fund raises globally this year.
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Half of the amount will come from existing investors Tiger Global, Russia-based DST Global and Accel Partners, while the rest will come from new investors, said The Economic Times.
Flipkart recently raised US$210 million in May from DST Global, Tiger Global, Naspers and Iconiq Capital.
Yuri Milner, Founder, DST Global in an earlier conversation said, “Flipkart is one of the fastest growing internet companies globally, led by visionary founders. It is well placed to capitalise on the significant opportunity in the fast growing Indian e-commerce market.”