Flipkart funding lifts mood but start-ups are still hazy on outlook

Consumer tech firms in India still have a lot to prove, managing partner at firm Iron Pillar, said

E-commerce marketplace Flipkart’s $1-billion funding round has lifted the sentiment for domestic start-ups and internet firms, but for others, getting investments at higher valuations might still be difficult.

On April 11, Flipkart announced it had raised $1.4 billion from Tencent, Microsoft and eBay at a lower valuation of $11.6 billion. However, players in the sector are of the opinion this is a positive development.

‘‘Fresh money coming into the sector after what has been a winter is positive. It displays that there is clear belief in the market potential,” said Suchi Mukherjee, founder and chief executive officer (CEO), Limeroad, a