Cash-strapped online retailer FlipKart reportedly raised $150 million in its fourth round of funding which completed on Friday.

FlipKart has not disclosed the amount, but emerging reports suggest that South African media group Naspers' Indian arm MIH India pumped a little more than $90 million into the online retailer.

In the latest round of funding, Flipkart gained two new investors, viz. MIH India and Iconiq Capital. Tiger Global and Accel Partners already own stakes in in the e-commerce company.

Existing investor Tiger Global is still the largest shareholder in the five year-old e-commerce company. The Nasper-led deal values FlipKart at around $800 million.

In July this year, a report by The Times of India (TOI) said FlipKart would run out of funds unless it raised more funds within the next nine months.

Karandeep Singh, chief financial officer of Flipkart, said that the company would utilize the money to achieve its growth targets.

Speaking on the topic, Mr. Singh said, "The money raised in this round will be invested in expanding supply chain capacities, launching new categories and in growing the talent pool to continue building on our leadership position."

Flipkart aims to hit gross merchandise value of $1 billion by the year of 2015.