Daily Trends Editor

India largest e-commerce company “Flipkart “ broadcast on Twitter that it has raised $1 billion in fresh funding.

The round was led by Tiger Global Management and Naspers, with participation by GIC and existing investors Accel Partners, ICONIQ Capital, DST Global, Sofina and Morgan Stanley Investment Management. The tweet confirms reports several days earlier in the Economic Times that company had secured that amount in funding at a reported $7 billion valuation.

According to the statement, Flipkart said the “funds will be used to make long-term strategic investments in India, more focus on mobile technology.”

The company raised $210 million back in May, just after it acquired online fashion giant Myntra. Flipkart launch its own series of smartphones and tablets. Flipkart has 22 million registered users and makes 5 million shipments a month.