[Funding alert] Myntra Raises $54 Mn Investment From Flipkart

Parent company Flipkart provided $54 million in funding to fashion e-commerce company Myntra.

The funding was received by Myntra's parent company, FK Myntra Holdings Pvt Ltd, in January, according to regulatory papers issued in Singapore. This is Flipkart's second funding of the company. In March 2023, Flipkart invested $105 million in Myntra, as reported by The Economic Times.

Read also - India’s First Text-to-Image Model Launched by Fractal

An integral part of the Flipkart Group, Myntra brings together technology and fashion to create the best experience in the fashion and lifestyle space in India. 

Singapore-based FK Myntra Holdings gave Rs 689 crore, or roughly $83 million, to Myntra's India division, Myntra Designs Pvt Ltd, in January.

Among India's top digital commerce enterprises is the Flipkart Group, which consists of the brands Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip.

About Myntra

One of the top marketplaces in India for m-commerce and fashion firms is Myntra. The Myntra platform provides access to more than 5,000 of the nation's top fashion and lifestyle companies, including Tommy Hilfiger, Levis, H&M, and the U.S. Polo Association. More than 19,000 pin codes are available nationwide with Myntra.

Read also - [Funding alert] CredShields Raises $1Mn Funding From Draper Associates