Flipkart Internet raised $111M in a funding round led by its related entities in Singapore and D2C startup Ayurveda Experience and online fraud detection startup IDfy secured $27M each.

Mar 09, 2024•almost 2 years ago

Amount Raised

$150 Million

Round Type

series a

BengaluruSoftwareCommerce and Shopping

Investors

Elev8Jungle Ventures

Description

Indian startups raised over $150.1M in funding this week. Flipkart Internet raised about INR 924 Cr ($111M) in two parts from its related entities based in Singapore. Additionally, D2C startup Ayurveda Experience and online fraud detection startup IDfy each secured $27M, tying for the largest funding amount raised of the week.

Company Information

Company

Flipkart

Location

Bengaluru, Karnataka, India

About

At Flipkart, we're driven by our purpose of empowering every Indian's dream by delivering value through innovation in technology and commerce. With a customer base of over 350 million, product coverage of over 150 million across 80+ categories, a focus on generating direct and indirect employment and a commitment to empowering generations of entrepreneurs and MSMEs, all driven by a sustainable growth strategy – Flipkart is maximising for customers, stakeholders, and the planet at large!

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Funding Insights

Based on industry data

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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