E-commerce major Flipkart on Wednesday said it has raised $200 million (over Rs 1,200 crore) from its existing investors, including Naspers, Accel and Tiger Global.
“This is the largest investment in an e-commerce company in India. 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,” Flipkart co-founder and CEO Sachin Bansal told the news agency.
Flipkart intends to use the funds for building and strengthening its technology capabilities, bolstering the robust supply chain and developing the talent pool, he added. Bansal said the investment will help Flipkart make pioneering technology and supply-chain innovations that will help change the face of online shopping.