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In what may be suggestive of a plummeting investor interest in India’s start-up segment, two mutual fund investors have marked down valuations of their investments in Flipkart.

The markdowns by Fidelity Rutland Square Trust II and Valic Co present another problem to the ecommerce giant which has been dogged with similar markdowns in the recent past. The latest mark-downs value India's largest ecommerce firm at USD 9 billion and USD 10 billion, respectively. This is the second consecutive markdown from both the mutual funds. Flipkart suffered a big blow earlier in February when Morgan Stanley, another mutual fund investor in the e-tailer, slashed the value of its holding by 27 percent to USD 11 billion from USD 15.2 billion. Market fund T Rowe Price followed the suit by announcing that it had cut the holding value of its investments in Flipkart by 15.1% in the quarter through March.