Indian e-tailer Flipkart plans more acquisitions having just raised $210 million in a fresh funding round.
Flipkart has secured investment from DST Global. Existing investors, including Tiger Global, Accel Partners and Iconiq Capital, also participated in the round.
“The funding further strengthens our capabilities to deliver on our next stage of growth,” said Binny Bansal, Flipkart co-founder and COO.
“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,” added Yuri Milner, founder of DST Global.
The recent round of funding takes the entire investment in Flipkart to $750 million.
Flipkart has already acquired fashion online retailer Myntra for an estimated price of more than $330 million, the biggest merger in Indian e-commerce history. The consolidation aims to fend off the dominance of Amazon in India’s e-commerce space.
“Flipkart and Myntra are getting together to create one of the largest e-commerce stories in the country,” said Flipkart CEO Sachin Bansal.