US private equity firms Carlyle and General Atlantic are in talks to jointly invest about $150 million to $200 million in online retailer FlipKart, reports Reuters. Carlyle and General Atlantic will pick up a minority stake in FlipKart after their investment. According to the report, this possible fourth round of funding by Carlyle and General Atlantic would help FlipKart to boost its business network ahead of Amazon's entry in India.
FlipKart has generated $11 million in sales last financial year, and expects revenue to cross $100 million this year. It is targeting $1 billion in revenue by 2015. Bangalore-based FlipKart had earlier raised $31 million in funding from US venture capital firms Tiger Global Management and Accel Partners.