The fundraising, led by Canada's Ontario Teachers' Pension Plan and funds advised by Iron Pillar, comes at a time when there are increasing worries about incremental funding among Indian startups.
               
In December, Snapdeal co-founder said the company is looking to increase spending on logistics and technology to better compete with rivals.
               
Indian e-commerce market, dominated by Flipkart, Amazon and Snapdeal, is estimated to be worth USD220 billion by value of goods sold by 2025. E-tailers, however, are racking up millions of dollars in losses in their bid to capture market share through deep discounts.
               
The latest fundraising comes after the company raised USD500 million raised last August in another round led by Alibaba Group Holding, SoftBank Group Corp and Foxconn.

Flipkart closed a USD700 million fundraising round last year.

 

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