Flipkart Singapore parent infuses Rs 1,421 crore in marketplace arm
Flipkart Internet in two tranches on March 23 and April 6, according to filings sourced from the Registrar of Companies (RoC).
This is an internal cash transfer and not fresh funding at a parent level. However, this is the second major fund infusion received by Flipkart Internet from its Singapore-based related entities in 2024. On March 4, ET had reported that the company received $111 million.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitThe new funding takes the total infusion in the marketplace entity to $281 million. It has come close on the heels of Flipkart drawing up plans to launch its quick-commerce service.
Flipkart has been making efforts to cut down on the timeline of its deliveries across various categories.
The Bengaluru-based etailer had rolled out same-day delivery of products across several categories at no extra cost from February. It initially launched the benefit in 20 cities, including metros like Delhi and Bengaluru, and also in smaller towns like Guwahati and Ludhiana.
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 the online retailer since 2021, when it closed a $3.6 billion funding round at a valuation of
