Bangalore: Bangalore based ecommerce company Flipkart has raised $150 million from its existing investors Accel Partners and Tiger Global Management in its fourth round of funding. Previously the company had raised a total of $31 million in its previous round of funding. The investment is said to be the largest funding raised by an Indian ecommerce company.

The company was in talks with General Atlantic and Sequoia Capital but the talks failed due to differences over the valuation. It had acquired Mumbai based digital content platform Mime360, founded by Sameer Nigam and Rahul Chari in October 2011. It had also acquired social book discovery tool weRead.com in December 2010 from Lulu Enterprises.

The company sells products in over 11 categories, ranging from mobiles to home appliances. It has offices in Bangalore, Delhi, Chennai, and Kolkata. It offers over 11.5 million book titles and has more than two million registered users. It was co-founded in 2007 by Sachin Bansal and Binny Bansal. Prior to founding Flipkart, Sachin was working with Amazon.com. He pursued Computer Engineering from IIT Delhi.

Accel Partners is a venture capital firm which supports entrepreneurs possessing unique insight to define new categories and build world-class companies. Its famous portfolio companies include Facebook, Veritas Software, RealNetworks, Riverbed, MetroPCS, Macromedia, and many others.

Tiger Global Management manages hedge and private equity funds. It invests in public and private equity markets, primarily in U.S., China, India, Southeast Asia, Latin America, and Eastern Europe. It was founded in 2001, with its headquarters in New York and offices in Beijing, China, and Mumbai. Few of its portfolio investments include Warby Parker, Trendyol, Exclusively.in, GetJar Networks, and Zynga.