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E-commerce major Flipkart’s logistics arm Ekart Logistics has received a funding of ₹1,632 crore recently from Klick2Shop, as per regulatory filings.
According to documents filed with the Corporate Affairs Ministry, Instakart Services — the entity that runs Ekart Logistics — received a funding of ₹1,632.8 crore in November in three tranches from Klick2Shop Logistics Services International.
On November 7, Klick2Shop (a company registered in Singapore) pumped in ₹323.6 crore and topped it up with two more rounds of fund infusion on November 27 for ₹981.7 crore and ₹327.4 crore, the documents showed.
“The equity shares allotted to Klick2Shop Logistics Services International shall rank pari-passu with existing equity shares of the company as to dividend voting or otherwise...,” it added.
Ekart was acquired by Flipkart from WS Retail Services, a major seller on Flipkart’s platform, in 2015.
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