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WHEN eKart RAISED $257.3 MILLION FUNDING FROM Flipkart

Instakart Services Pvt. Ltd or as it is commonly known as ‘eKart’, which is the logistics arm of Flipkart receives funds of over $257.3 million (over Rs 1,600 crore) of fresh capital.

Flipkart’s eKart arm is responsible for many services such as seller services, post-delivery services and order fulfillment.

It was revealed that Flipkart had raised this sum in multiple rounds between October and November in the previous year. In November, the bulk sum that was raised, amounted to Rupees 1,309.20 crore ($206.20 million), and in October, the sum amounted to Rupees 327.41 crore ($ 51.56 million).

Industry experts believe that Flipkart’s new focus is to pump in large amount of investment into its logistics arm going forward. In a statement, Flipkart chief executive Kalyan Krishnamurthy said that the company will now mainly focus  on increasing its monthly active users and as resultant expects the growth of over two-fold in 2018.

Based in Bangalore, Ekart courier or Ekart logistics is an Indian courier delivery services company. It works as a subsidiary for electronic commerce company Flipkart and is run by Instakart services Pvt. Ltd.

The CEO and founder of StartupLanesShishir Gupta says, “the investment by Flipkart in the home based courier delivery company eKart would improve its logistics arm drastically and eKart would be able to provide even better and faster services to its customers all over India. With the hard work and persistence of the people of eKart, the company will surely be able to dominate the delivery services marketing field in the country.”

The improved services of delivery and electronic commerce in the form of faster delivery and other such services will take the marketing giant Flipkart to another level.

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