Klick2Shop invests Rs 1632 cr in Flipkart’s logistics arm

2018/01 07 08:01

Indian e-commerce company Flipkart's logistics arm Ekart Logistics garnered a funding of Rs 1,632 crore from Singapore-based Klick2Shop Logistics Services International in November last year. Instakart Services, which runs Ekart Logistics, received the funding in three tranches, according to documents filed with the corporate affairs ministry. Klick2Shop invested Rs 323.6 crore on November 7, and backed that with two more rounds on November 27 for Rs 981.7 crore and Rs 327.4 crore, a news agency reported. Established in 2009 by WS Retail Services and acquired by Flipkart in 2015, Ekart delivers 10 million shipments to over 3,800 pin codes every month. It works with Flipkart and other brands as well. (DS)

--CopyRights: DIRTWAVE BLOG » Klick2Shop invests Rs 1632 cr in Flipkart’s logistics arm

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