Tiger Global and Naspers Lead US$1 Billion Round for Flipkart (Asia)
Source: VCCircle | Author(s): Nikita Peer
Indian e-commerce platform Flipkart has raised US$1 billion in a new funding round co-led by existing investors alternative investment firm Tiger Global and global internet services company Naspers. Singapore’s sovereign wealth fund GIC, Accel Partners, DST Global, ICONIQ Capital, Morgan Stanley Investment Management and Sofina also participated in the round. The new funding, which will be used for long-term strategic investments in India, especially in mobile technology, brings Flipkart’s total capital raised to date to approximately US$1.75 billion.