NEW DELHI—Indian e-commerce company Shopclues.com said Tuesday it has become the latest startup to receive a billion-dollar valuation from investors, as the company gears up to go public next year.

The company raised close to $150 million from Singaporean sovereign-wealth fund GIC Pte Ltd. and existing investors Tiger Global Management Corp. and Nexus Venture Partners, according a person with knowledge of the deal’s terms. Investors valued the company at $1.1 billion, making it at least the seventh Indian startup valued to...