It looks like Flipkart is eyeing to raise another round of funding that may be between $700 million and $1 billion, as per latest report from Livemint.
The homegrown e-commerce player is currently valued at $6 billion and is expected to reach $11-$12 billion after the fresh round of funding. As per the report minimum three new investors will participate in the latest round of funding, which is expected to be closed within the next 45 days. Qatar Investment Authority, the sovereign wealth fund of Qatar, is one of the new investors Flipkart, said the report.
The prospective round of funding will help Flipkart to pursue its aggressive market share acquisition strategy. Flipkart secured $210 million from DST Global in May this year that was followed by the whopping $1 billion (Rs 6,000 Cr) funding from new and existing investors in July.