Why fundraising by Flipkart is an event in India’s startup space?

Flipkart, the country’s largest home-grown e-commerce company, is slated to hit the road this quarter to raise a fresh round of capital, Mint reported this week. It hopes to raise at least $500 million and up to $1 billion, the report said citing unnamed sources. The report follows an earlier one in the Economic Times that said, also citing unnamed sources, that Walmart, the world’s largest retailer, is in talks to buy a stake in the Bengaluru-based company.