Flipkart plans to raise the additional capital ahead of an initial public offering, now planned for next year, the people said.
It was an historic week for India's technology industry. In the space of four days, the country minted at least six new startups with a valuation of $1 billion or more.
Groww, Meesho, ShareChat and API Holdings became Unicorns after latest round of fundingvaluing all of them above $1 billion or Rs 7,450 crore.
The funding was led by US venture capital firm Lightspeed Venture Partners and American investment firm Tiger, ShareChat said.
MobiKwik has faced growing criticism this week for denying a leak many customers and digital rights activists say is linked to the company's database.
The startup Devic Earth is placed across markets by with products that are scalable and sustainable with advanced technology that provide user-friendly solutions to the problems faced due to air pollution
Entrepreneurs are selling farmers apps to connect them to big buyers nationwide and using artificial intelligence to improve the rickety supply chains that lose one-fourth of India's produce to wastage.
China's Alibaba, which holds around 26 per cent stake in BigBasket, is expected to sell its entire shareholding in the company, the Economic Times reported.
Analysts believe the rate of success for a start-up is based on the idea and the timing of the implementation.
Flipkart Leap: The Bengaluru-based e-commerce company said it will identify innovative startups to promote the startup ecosystem and support the government's Start-up India initiative.
WeWork's India franchise in May laid off 100 employees or 20 per cent of its workforce, joining a slew of firms that are cutting costs.
Ride-hailing service provider Ola on Wednesday announced that it will lay off 1,400 of its staff amid COVID-19 pandemic.
Food delivery company Swiggy said on Monday that it will lay off 1,100 employees over the next few days.
A group of the top venture firms, including U.S. groups Sequoia and Accel, warned start-ups this month that it will be "very difficult" to raise financing anytime soon.