Indian eCommerce giant Flipkart has raised $200 million from its existing investors in a new funding round, according to the Economic Times. The backing marks the largest single-round of funding to date for an Indian eCommerce company.
“There was a lot of scepticism about Flipkart and e-commerce in india. This funding refutes that. We see this as a great validation,”said Sachin Bansal, chief executive of Flipkart.
Flipkart has now raised a total of around $380 million in funding.
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