Existing investors including New York-based hedge fund Tiger Global Management and Nexus Venture Partners participated in this round of funding.
Flipkart is engaged in a fierce battle with US-based Amazon and local competitors such as Snapdeal, Paytm and ShopClues to retain its market leadership.
"This award is for my parents, who have given me the energy that I have. Thank you so much for the honor."
The deal values the startup at around Rs 300 crore ($45 million) according to two people with knowledge of the development.
Chinese online travel major Ctrip.com International has agreed to invest $180 million in India's largest online travel company, Nasdaq-listed MakeMyTrip.com,
The deal was structured as a majority stock swap and values CommonFloor at around $120 million. Quikr said it will continue to operate both brands.
Flipkart has started talks with investors to raise about $1.4 billion (Rs 9,200 crore), four people aware of the development said, as it keeps up its fundraising spree.
Tracxn has raised angel funding from Flipkart's co-founders Sachin and Binny Bansal, Delhivery's CEO Sahil Barua and $3.5 million in series-A funding from SAIF Partners.
The company, which counts Amazon among its investors, expects to increase this value further five fold in the next three years.
It plans to spend this money on product development including technology as well as marketing and for strategic investments in startups.
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