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The Highest VC Investments In 2011 In India
By Anamika Sahu, SiliconIndia
Flipkart
The e-commerce portal Flipkart had raised $40 million in its series C round of funding from its existing investors Tiger Global Management in June 2011. The funds were raised to build capacity in supply chain, to upgrade technology and expand its market. Previously the company had raised $10 million from Tiger Global Management; and another investment from Accel Partners in late 2009; to take the total funds to $31 million. The company was founded in 2007 by Sachin Bansal and Binny Bansal, and has grown to become India’s largest online bookseller. Flipkart has now ventures into mobile phones, gaming consoles, music and movies as well.
