Online retailer - Flipkart Online Services has raised $150 Mn investment led by Naspers and by existing investor Tiger Global, according to IndiaDigitalReview.
The company which has 4,800 employees and services 50,000 orders a day was recently planning to raise funds. This January it raised $150 Mn from existing investors – Accel Partners and Tiger Global Management in its fourth round of funding.
Flipkart has put a R300 minimum order cap for the free delivery option, to cut down its losses. The company emphasizes more on customer acquisition which lead to a gross margin loss per unit sale.
Nasdaq listed MakeMyTrip has invested $5 Mn in Bona Vita Technologies Private Limited, a stealth mode startup, for an undisclosed stake according to a filing with the US Securities and Exchange Commission.