On Wednesday, India's Flipkart raised US$200 million from a clutch of private equity funds. According to Reuters, the amount obtained could be the single biggest investment in an e-commerce company for the country.

Flipkart stated that the money came from Naspers Ltd, a South African technology firm and Tiger Global and Accel Partners which are both private equity funds.

The three companies that provided the money were current investors of Flipkart. The Bangalore-headquartered company would use the funds to build and strengthen technological capabilities. Flipkart added that it would boost its supply chain.

The six-year old company offered merchandises across 17 classifications. It also reported up to 1 million distinct online visitors per day.

Due to the upsurge in internet usage, Flipkart was expected to cross its US$100 million target. When people became accustomed to acquiring products online, Flipkart's sales bolstered.

According to the company, they were able to sell about 20 products per minute.

They aimed on earning US$1 billion by 2015.