I’ve been writing that this Silicon Tiger nation would catch up to China’s Silicon Dragon, and the evidence keeps piling up. Flipkart raised the sum from Singapore’s sovereign wealth fund, GIC, as well as existing investors including Tiger Global Management, Naspers, Accel Partners and Morgan Stanley Investment Management. This latest deal for Flipkart follows a $210 million fund raising this past May and Flipkart’s acquisition of fashion retailing site Myntra, which also is venture backed.
I first covered Flipkart (and also Myntra) in my book Startup Asia, after meeting with the founders — Sachin Bansal and Binny Bansal — in Bangalore in 2010.
Keep reading post at Forbes, Flipkart.