India’s largest online seller, Flipkart, has broken its own record by raising $1.4 billion in its latest round of funding. In 2014, the e-commerce company had raised $1 billion in a single funding round, which was till now the highest investment into an online startup in the country.
This time, Flipkart’s investors were all first-timers: American software giant Microsoft, Chinese internet firm Tencent, and online retailer eBay. Since 2009, Flipkart—now valued at $11.6 billion—has raised over $4.4 billion in 11 funding rounds. American investment firm Tiger Global participated in nine of them. Along with Palo Alto-based Accel Partners, Tiger Global was an early investor in Flipkart, founded by Sachin Bansal and Binny Bansal in 2007.
With the latest round of funding, Flipkart is ready to take on its top competitor Amazon, which has already poured billions of dollars into the country. Here’s Flipkart’s fundraising history:
|October 2009||$1 million||Accel Partners|
|January 2010||$10 million||Tiger Global|
|March 2011||$20 million||Tiger Global|
|August 2012||$255 million||Iconiq, Accel Partners, Tiger Global, Naspers|
|July 2013||$200 million||Iconiq, Accel Partners, Tiger Global, Naspers|
|October 2013||$160 million||Tiger Global, Dragoneer, Vulcan Capital, Morgan Stanley, Sofina|
|May 2014||$210 million||Iconiq, Naspers, Tiger Global, DST|
|July 2014||$1 billion||Tiger Global, Naspers, Accel Partners, Morgan Stanley, DST, Sofina, Iconiq, GIC|
|December 2014||$700 million||DST, Greenoaks, GIC, Baillie Gifford, Tiger Global, T. Rowe Price, Steadview Capital Management, Qatar Investment Authority, Iconiq|
|July 2015||$700 million||Tiger Global, Qatar Investment Authority|
|April 2017||$1.4 billion||Tencent, Microsoft, eBay|