Flipkart has started talks with investors to raise about $1.4 billion (Rs 9,200 crore), four people aware of the development said, as it keeps up its fundraising spree.
Tracxn has raised angel funding from Flipkart's co-founders Sachin and Binny Bansal, Delhivery's CEO Sahil Barua and $3.5 million in series-A funding from SAIF Partners.
The company, which counts Amazon among its investors, expects to increase this value further five fold in the next three years.
It plans to spend this money on product development including technology as well as marketing and for strategic investments in startups.
After record funding rounds, it's time for a reality check in Startup Inc as investors demand results
Experts believe that although exciting new startups will continue to be created, it will be at a much tougher climb this year compared with 2015.
Facebook had raised capital from Microsoft at a valuation of $15 billion in 2007, two years later its valuation was down to $10 billion.
The move comes as Indian startups have sharpened their focus on unit economics after growing rapidly over the past two years.
Time for reality check in startups? Firms like UrbanClap, Swiggy, Rivigo hit $100 million mark in just a year
Led by Internet companies, more than 1,000 startups raked in at least Rs 35,000 crore this year, a record for India’s startup ecosystem.
This year has been historic for India’s startup ecosystem, with record fundraising helping more companies vault to billion-dollar valuations.
Delhivery aims to now create technology solutions for merchants, help them list on online marketplaces and develop point-of-sale systems.
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