Total amount raised
$650.8 Million
Latest funding date
11/1/2024
Location
Myntra has successfully navigated 17 funding rounds, securing investments from 12 different investors, including FK Myntra Holdings and Flipkart. The platform has also made strategic investments and acquisitions, such as its recent acquisition of Pretr Online Services Pvt. Ltd.
Keep reading to explore the intricacies of Myntra's fundraising journey and the investors backing this innovative platform.
What Is Myntra?
Myntra, founded in 2007, is a prominent e-commerce platform specializing in fashion and lifestyle products. Headquartered in Bengaluru, Karnataka, India, the company has grown from a B2B venture to a leading online shopping destination.
Operating in the consumer goods, e-commerce, fashion, and shopping industries, Myntra employs between 1001 and 5000 people. The platform offers a wide range of products, including clothing, footwear, accessories, and beauty items, catering to men, women, and kids.
How Much Funding Has Myntra Raised?
- Amount Raised: USD 25,000,000
- Date: May 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion in the competitive e-commerce market.
- Amount Raised: USD 50,000,000
- Date: January 2014
- Lead Investors: PremjiInvest, Sofina, Accel, Tiger Global
- Valuation at Round: USD 200,000,000
- Motivation Behind the Round: To invest in business growth and achieve a GMV of $1 billion by 2016-2017.
- Amount Raised: INR 500,000,000
- Date: October 2017
- Lead Investors: Kotak Mahindra Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure debt financing for operational and expansion needs.
- Amount Raised: USD 63,680,000
- Date: March 2018
- Lead Investors: FK Myntra Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market reach.
- Amount Raised: USD 103,000,000
- Date: October 2020
- Lead Investors: FK Myntra Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster e-commerce capabilities and infrastructure.
- Amount Raised: INR 4,920,000,000
- Date: September 2021
- Lead Investors: FK Myntra Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and market expansion.
- Amount Raised: USD 116,000,000
- Date: March 2022
- Lead Investors: Flipkart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and enhance customer experience.
- Amount Raised: USD 54,000,000
- Date: January 2024
- Lead Investors: Flipkart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive innovation and expand product lines.
- Amount Raised: USD 81,000,000
- Date: November 2024
- Lead Investors: Flipkart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve logistics.
- Amount Raised: INR 10,625,000,000
- Date: May 2025
- Lead Investors: FK Myntra Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and enhance technological capabilities.
Total Amount Raised: USD 1,000,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- FK Myntra Holdings
- Details: FK Myntra Holdings is a significant investor in Myntra, participating in multiple funding rounds. It has played a crucial role in supporting Myntra's growth and expansion.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Myntra.
- Flipkart
- Details: Flipkart is the parent company of Myntra, having acquired it. Known as the "Amazon of India," Flipkart has been instrumental in Myntra's strategic direction and market positioning.
- Investment Focus Areas: E-commerce, technology, logistics.
- Notable Investments: Myntra, PhonePe, Ekart.
- Kotak Mahindra Bank
- Details: Kotak Mahindra Bank is a leading Indian financial institution that provided debt financing to Myntra. The bank offers a wide range of financial services, including personal banking, investment banking, and wealth management.
- Investment Focus Areas: Banking, financial services, insurance.
- Notable Investments: Not publicly disclosed.
- PremjiInvest
- Details: PremjiInvest is the investment arm of Azim Premji, the founder of Wipro. It focuses on long-term investments in various sectors, supporting companies with growth potential.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Myntra, PolicyBazaar, FabIndia.
- Tiger Global
- Details: Tiger Global is a global investment firm that invests in private and public companies. It has a strong focus on technology-driven businesses and has been a key player in the Indian startup ecosystem.
- Investment Focus Areas: Technology, e-commerce, fintech.
- Notable Investments: Myntra, Flipkart, Ola.
What's Next for Myntra?
Myntra stands at the cusp of significant growth, driven by the booming Indian e-commerce market, which is projected to reach $22 billion in the next five years. This presents a massive opportunity for the company to expand its market share and enhance its product offerings. With a projected GMV of $1 billion by 2016-2017, Myntra is well-positioned to attract further investments and potentially make strategic acquisitions to bolster its capabilities.
Future fundraising opportunities are likely, given the continued interest from prominent investors like PremjiInvest, Sofina, Accel, and Tiger Global. These funds could be pivotal in scaling operations and enhancing technological infrastructure. However, Myntra will need to navigate intense competition from giants like Amazon and Flipkart, as well as regulatory uncertainties in India's e-commerce sector. Maintaining rapid growth while ensuring operational efficiency will be crucial for Myntra's sustained success.
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