Ecommerce player Flipkart has confirmed that it has raised $700 million in a fresh round of funding. The development was first reported by the Economic Times in July, but at the time the company had declined to comment on the development. With this round, it takes the valuation of the company to $15.2 billion. The Economic Times report added that Tiger Global and existing investors including Steadview Capital participated in the fundraise. Flipkart co-founders Sachin Bansal's and Binny Bansal's holdings of about 8.5% each in India's most valuable online marketplace are now worth more than $1 billion. It's worth noting that Sachin and Binny Bansal a few days ago made it to the Forbes Indian billionaires list and debuted at number 86 with a net worth of $1.3 billion. Previous rounds of funding and IPO So far, Flipkart has raised $3.2 billion in 12 rounds of funding. The company had previously raised $700 million in December 2014 from a clutch of investors, and with the number of shareholders exceeding 50. The ecommerce player had raised $1.91 billion in last year alone. It's worth noting that Tiger Global has invested in every single round since it first invested in Flipkart in 2010. DST Global has invested in three rounds this year, and in every round since it first invested earlier this year. Naspers also mentioned that at the end of March 2015, it holds about 15.83% interest in ecommerce player Flipkart on a fully diluted basis. The company participated in two funding rounds in Flipkart last year.…
