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Snapdeal raises $200 million in a fresh round of funding

Snapdeal the Indian online marketplace has raised $200 million in a fresh funding round led by Ontario Teachers’ Pension Plan of Canada, which is claimed to be one of the world’s largest pension funds, Brother Fortune Apparel of Singapore and venture capital fund Iron Pillar, among others. Snapdeal in August had raised $500 million in a round led by Alibaba, SoftBank and Foxconn. Post its last funding round, the online marketplace was valued at $4.8 billion. Snapdeal says that the capital raised will be used to enhance and build its technology platform, logistics, payments, and back-end infrastructure. Delivering products to more than 6000 towns and cities in the country, the company claims to have more than 2.7 lakh sellers and over 30 million products.