Flipkart, an Indian e-commerce website, has raised $700 million from new investors Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates and Qatar Investment Authority. Previous backers DST Global, GIC, ICONIQ Capital and Tiger Global also participated in the round, which reportedly values the company at $11 billion. Flipkart will use the funds for long-term strategic investments, according to a company press release. The e-commerce marketplace also announced it has filed with ACRA Singapore to convert to a public company, but added that the move does not imply an upcoming IPO.
Tencent Holdings has led a $50 million Series C investment in travel app BreadTrip. The company will use the money for recruitment and to expand its destinations covered. Fidelity Growth Partners Asia and previous investor China Broadband Capital also participated. BreadTrip claims to have 30 million cumulative active users.
Guokr, a community for science and technology education in China, has secured a $15 million investment from TAL Education group, an after-school tutoring services provider also based in China. IDG and other investors also participated to take the total funding of the Series C round to $20 million. Guokr reportedly boasts 800,000 users on its platform and is partnered with Coursera. “With our investment in Guokr we take another solid step towards transforming into a leading technology-driven education services provider in China. We are pleased with this opportune and complementary investment, which we continue to seek as we expand and innovate our core tutoring service offerings,” said TAL’s co-founder and General Manager of Investment Unit, Yachao Liu.
Elemental Technologies, a provider of software-defined solutions for multiscreen content delivery, has raised $14.5 million in Series D funding led by Australian telecom services company Telstra. European entertainment company Sky also joined previous backers General Catalyst Partners, Norwest Venture Partners and Voyager Capital in the round. The company plans to use the funds for worldwide growth and to expand its range of solutions. “With its software-defined video processing and delivery solutions, Elemental is at the forefront of video delivery and the evolution of content monetization. Our investment in Elemental will enable Telstra to create value for our global media customers,” said Mark Sherman, Global Enterprise and Services Managing Director, Ventures, for Telstra. “Elemental’s unique offer provides the flexibility and scalability to ensure a great customer experience despite high network traffic demands.”