On the heels of acquiring online fashion store Myntra, e-commerce major Flipkart has raised $210 million from DST Global and existing investors Tiger Global, Naspers, and Iconiq Capital. It's not clear as to where the company plans to use the investment raised but it's possible that the company will be using this investment to fund the Myntra acquisition among others. Last week, the company had mentioned that it will be investing upward of $100 million into Myntra in the near future. Post acquisition, Myntra CEO Mukesh Bansal had joined Flipkart board and was heading Flipkart's fashion business. Interestingly though, when Flipkart CEO Sachin Bansal was asked if the company was looking to raise any further investment following the Myntra acquisition last week, he had mentioned that the company was well-funded at the moment, having raised a significant round in October last year. Update: Flipkart CEO Sachin Bansal has sent the following response on the company's plans with this investment: E-commerce is a capital intensive industry. India is going to be the third biggest e-commerce market in the world and anyone who wants to build a large e-commerce company will need capital. Raising funds and having money in the bank gives us the flexibility to take optimal decisions as and when opportunities come up. For example, if we want to expand faster, invest more aggressively in supply-chain, or if there is an acquisition opportunity - the funds should give us adequate flexibility to make the decisions we think are best for the business.…
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