LONDON (ShareCast) - (ShareCast News) - Indian e-commerce firm Flipkart raised $1.4bn from tech giants Tencent, eBay and Microsoft.
Flipkart's 11th funding round values the online market place at $11.6bn, with Flipkart purchasing eBay India as a part of the same transaction.

The new investors join Tiger Global Management, Naspers Group, Accel Partners and DST Global on Flipkart's shareholder register, the company said in a statement.

Flipkart founders Sachin Bansal and Binny Bansal said: "We are delighted that Tencent, eBay and Microsoft - all innovation powerhouses - have chosen to partner with us on their India journey. We have chosen these partners based on their long histories of pioneering industries, and the unique expertise and insights each of them bring to Flipkart. This deal reaffirms our resolve to hasten the transformation of commerce in India through technology."

eBay India will continue to operate as a separate entity, Flipkart added.

Under the terms of the agreement, customers of Flipkart will also now have access to EBay's global network and inventory.

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