Talks are on with major players such as Goldman Sachs and Axis Bank for this funding round.
The fresh funds could boost Flipkart's valuation and set the stage for an IPO over the next 12-18 months.
Plus, it might help expand services such as Flipkart Minutes (their speedy delivery) and keep them competitive against Amazon.
Financially, things are looking up too: Flipkart cut its losses last year while growing revenue by more than 14%, hinting at bigger plans ahead.