Nilekani and Aggarwal had set up Fundamentum as a growth-capital fund for mid-stage technology companies in India, announcing it in July last year.
The company recently closed a $300-million round led by Alibaba and CEO Hari Menon expects to grow further with the infusion of capital.
The move comes less than two months after South African media giant Naspers and Chinese ecommerce firm Meituan-Dianping invested $100 million in the Bengaluru-based startup.
Naspers plans to use the capital to scale and consolidate its position in "core ecommerce segments" globally.
Walmart is set to become the largest shareholder in Flipkart — India’s biggest ecomm co — pitching it into a direct battle with another US giant — Amazon.
Byju’s is the 11th unicorn startup from India, following messaging app Hike that joined the club more than 18 months ago.
Investors who track the online retail industry are of the view that given the advantage of being a local player, Flipkart has a strong chance of making further inroads in the tier 2 markets.
The company is reportedly also in talks with several other investors like Singapore’s Temasek Holdings and China’s Primavera Capital Group to raise another Rs 1,000 crore.
Ola was last valued at $4 billion when it raised $400 million from Chinese internet conglomerate Tencent in September.
India needs to make sure that it builds an ecosystem for the success of local businesses. If I am blunt about it, I think Europe is a digital colony of the US. Europe has nothing.
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