Flipkart Online Services has raised $150 Mn from existing investors – Accel Partners and Tiger Global Management Llc in it's fouth round of funding. The deal values Flipkart at around $850Mn.

From Tiger Global raised $20Mn last June and $10 Mn in 2010, while Accel Partners had invested in the company in late 2009. Collectively the company has raised a total of almost $31 Mn in three rounds of funding.

In October last year, Flipkart was also talking with Carlyle Group and General Atlantic to raise upto $200Mn by divesting a minority stake in the company, however the deal didnt fructify due to differences in valuation between Flipkart and the investors.

Bangalore-based Flipkart was founded in 2007 by IIT Delhi classmates Sachin Bansal and Binny Bansal.

Flipkart, which started as an online retailer of books in 2007, has slowly diversified into mobiles, cameras, movies and music CD/DVDs and electronic goods. It has offices in Bangalore, Mumbai, Delhi, Chennai and Kolkata.

Flipkart is present in 12 categories and plans to add more products. It has more than 2 million registered users and sale of 30000 items a day.

Last October, it acquired Mumbai based Mime360, a digital content platform founded by Sameer Nigam and Rahul Chari, while in Dec 2010, Flipkart acquired social book discovery tool weRead.com from Lulu Enterprises, Inc, a US-based on-demand publishing firm.

Accel Partners entered India in 2008 when it acquired Bangalore-based early stage venture capital fund - Erasmic Partners, which was managing a $15 Mn fund. Later on, Accel closed its second fund of $60 Mn (R292Cr).

Accel Partners is also planning to set up its third India-focused fund with a corpus of $125 Mn. Last Dec, it invested in Trivone Digital Services. Its other investment includes Ace Creative Learning, Babyoye.com (Nest Childcare Services Private Limited), Exclusively.in, Probe Equity Research Pvt Ltd, LetsBuy.com, among others.

In 2011, Tiger Global invested in online private sales site Exclusively.in. Along with Accel Partners, it invested $2.5 Mn in Mumbai-based Nest Childcare Services Private Limited, which runs BabyOye.com, an online baby products store.

Tiger Global along with IDG Ventures and IndoUS Venture Partners invested $14 Mn in Myntra.com.It also invested in online electronics retailer LetsBuy.com.

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