Flipkart Internet receives $111 million in new fund infusion
Flipkart Internet, the marketplace arm of Walmart-owned ecommerce firm Flipkart, received a cash infusion of about Rs 924 crore ($111 million) in two parts from its related entities based in Singapore in January, regulatory filings with the Registrar of Companies (ROC) showed.
Flipkart has a number of units in India that run a variety of businesses like logistics and the ecommerce marketplace. The fresh capital came from the firm’s related Singapore-based entities on January 8 this year. Two resolutions to infuse capital into the firm were approved on December 20 and December 22 last year, the documents showed.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitThe infusion comes as rival Amazon's investment in its India entities this year have already crossed Rs 1,000 crore, including a Rs 830 crore infusion into Amazon Seller Services, the entity that runs the Amazon marketplace in India. Amazon also invested Rs 350 crore in the entity that runs its fintech unit, Amazon Pay, in January.
Flipkart is also in talks to raise as much as $1 billion, with parent Walmart committing to inject $600 million, ET reported on December 21. This would be the first fundraise for India’s largest online retailer since 2021, when it closed a $3.6 billion funding round at a valuation of $37.6 billion.
Flipkart’s valuation
