The funding — first reported by ET in its edition on November 30 — will be used to hire senior talent, strengthen technology.
Investors who flocked to the Capital on Saturday for the Startup India summit reiterated that capital will be available for good companies.
ShopClues became the latest Indian ecommerce firm to enter the coveted billion dollar valuation club, snapping at the heels of Snapdeal and Paytm.
The money will be used to fund the cash acquisition of rival CarWale from German media conglomerate Axel Springer.
Existing investors including New York-based hedge fund Tiger Global Management and Nexus Venture Partners participated in this round of funding.
Flipkart is engaged in a fierce battle with US-based Amazon and local competitors such as Snapdeal, Paytm and ShopClues to retain its market leadership.
"This award is for my parents, who have given me the energy that I have. Thank you so much for the honor."
The deal values the startup at around Rs 300 crore ($45 million) according to two people with knowledge of the development.
Chinese online travel major Ctrip.com International has agreed to invest $180 million in India's largest online travel company, Nasdaq-listed MakeMyTrip.com,
The deal was structured as a majority stock swap and values CommonFloor at around $120 million. Quikr said it will continue to operate both brands.
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