Ecommerce major Flipkart has raised $3.6 billion in a new round of funding that will give it a massive firepower to expand online shopping in India and take on rivals like Amazon, Reliance Industries (RIL) and the Tata Group.

At the time, Flipkart was valued at just under $24.9 billion, 13% higher compared to $22 billion ascribed to it three years ago. Post the financing, the company will be valued at over $37.6 billion up from $24.9 billion it commanded a year ago in an internal round led by Walmart.

Flipkart Raises $3.6 Billion As Competition Intensifies; Valuation Jumps To $37.6 Billion

Flipkart Raises $3.6 Billion As Competition Intensifies; Valuation Jumps To $37.6 Billion

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