Fresh Funding For Flipkart Again, $180Mn From Honkong's Steadview Capital

India's e-commerce giant Flipkart has raised a fresh round of funding again and the third round of funding of Flipkart has been led by Hongkong-based investment firm Steadview Capital. Flipkart has received an initial investment of $180 million from Steadview Capital.

Moreover, the latest round of funding has been made against their new valuation of $11 billion or roughly Rs 69,000 crore from its previous valuation of $10 billion which was just a month back. The latest valuation has made Flipkart's worth more than some of India's largest consumer companies. While Godrej Consumer is estimated to be worth Rs 31,000 crore, Dabur India is valued at about Rs 41,000 crore.

This latest deal, which when complete could bring in about $700 million in fresh funding for Flipkart. For Steadview Capital this its third funding in Indian company. Earlier, the investment firm had invested in furniture e-tailer Urban Ladder and taxi aggregator Olacabs.

Last month we reported that Flipkart is all set to raise another waive in India's e-commerce industry by its plan of raising another $1.5 billion in a fresh round of funding.

So far Flipkart has raised a total of $1.2 billion in year 2014 comparing to Snapdeal's $860 milion funding in 2014.

In May, Flipkart received $210 million led by Russian billionaire Yuri Milner's DST Global and in July, Flipkart had raised $1 billion funding (roughly Rs. 6,000 crores). The $1 billion fund raised by the company also became the biggest fund raising ever by an Indian startup or an e-commerce company in India.

Flipkart is now worth nearly half of India's fourth-largest IT services firm Wipro, which has a market capitalisation of Rs 1.34 lakh crore, and nearly seven times the mid-sized IT services firm MindTree that is valued at Rs 10,000 crore.

Funding Raised By Flipkart - 2009-2014

RoundWho FundedDateAmount
First RoundAccel India2009USD 1 Million
Second RoundTiger Global2010USD 10 Million
Third RoundTiger GlobalJune 2011USD 20 Million
Fourth RoundNaspers / ICONIQ CapitalAugust 2012USD 150 Million
Fifth RoundNaspers, Accel Partners, Tiger Global, and ICONIQ CapitalJuly 2013USD 200 Million
Sixth RoundDragoneer Investment Group, Morgan Stanley Investment Management, Sofina and Vulcan Capital, Tiger GlobalOct 2013USD 160 Million
Seventh RoundDST GlobalMay 2014USD 210 Million
Eighth RoundTiger Global, DST Global, Accel Partners (plus other new investors)July 2014USD 1 Billion
Ninth RoundSteadview CapitalDecember 2014USD 180 Million
TotalUSD 1.2 Billion

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