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Russia’s MailRu Group co-founder invests in Indian online retailer

May 27, 2014, 13:52 UTC+3 MOSCOW
Existing investors Tiger Global, Naspers, and Iconiq Capital also participated in the financing round
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Yuri Milner

Yuri Milner

© ITAR-TASS/Alexei Filippov

MOSCOW, May 27. /ITAR-TASS/. Fund DST, owned by Russian businessman Yuri Milner, a co-founder of Internet company Mail.Ru Group, has acted as a leading investor in the round of financing of major Indian online retailer Flipkart, NextBigWhat reported late Monday.

Flipkart raised a total of $210 million. Existing investors Tiger Global, Naspers, and Iconiq Capital also participated in the financing round.

Flipkart’s other investors include Accel Partners, Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina, and Vulcan Capital.

This round takes the entire funding in Flipkart to $750 million, highest ever for any Indian startup.

Flipkart raised $160 million in October 2013 and $200 million in July 2013. The company was valued at $1.6 billion when it raised $140 million from Naspers in 2013.

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