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Accel-backed Flipkart brings latest funding round to $360m through PE investment

9 Oct 2013

shopping spree_lrgPrivate equity firms have reportedly invested another $160m in Indian e-commerce company Flipkart just three months after the business picked up $200m of funding.

Morgan Stanley Investment Management, Vulcan Capital and Tiger Global all took part in the most recent fundraising round, as did Dragoneer Investment Group and Sofina, Reuters reported.

Tiger and venture capital firm Accel Partners joined South African technology group Naspers to provide the previous $200m in July.

All three are existing investors in the owner of Flipkart.com, which began as an online book retailer in 2007 before diversifying into mobile phones, music and electronic items.

Naspers and Tiger Global invested $150m in the company in August 2012.

Flipkart has said it hopes to increase its revenues to $1bn by 2015, which would mark a tenfold increase from the $100m figure from 2011.

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