India’s largest online seller, Flipkart, has broken its own record by raising $1.4 billion in its latest round of funding. In 2014, the e-commerce company had raised $1 billion in a single funding round, which was till now the highest investment into an online startup in the country.
This time, Flipkart’s investors were all first-timers: American software giant Microsoft, Chinese internet firm Tencent, and online retailer eBay. Since 2009, Flipkart—now valued at $11.6 billion—has raised over $4.4 billion in 11 funding rounds. American investment firm Tiger Global participated in nine of them. Along with Palo Alto-based Accel Partners, Tiger Global was an early investor in Flipkart, founded by Sachin Bansal and Binny Bansal in 2007.
With the latest round of funding, Flipkart is ready to take on its top competitor Amazon, which has already poured billions of dollars into the country. Here’s Flipkart’s fundraising history: