Flipkart Online Services Pvt Ltd has completed a $1 billion fundraising and aims to raise as much as $1 billion more over the next few months, according to people familiar with the matter, giving India’s largest e-commerce company capital to battle back against rising competition.
Flipkart closed the latest round on Friday at a valuation of about $10 billion, said the people, asking not to be named because the matter is private. The valuation is a decline from Flipkart’s $15.5 billion in 2015. The company didn’t immediately provide comment.
