Agencies
Homegrown e-commerce company Flipkart has raised $3.6 billion in a new funding round, its first capital infusion from external investors since US retailing behemoth Walmart acquired it for $16 billion in 2018.
The fundraising is expected to give the Sachin and Binny Bansal-founded startup significant firepower to expand online shopping and take on well-capitalised rivals such as Amazon Inc, Reliance Industries and the Tata Group.
Canada Pension Plan Investment Board (CPP Investments), the Singapore government’s sovereign wealth fund GIC, Japan’s SoftBank Vision Fund 2 and Flipkart’s largest shareholder Walmart led the round, with participation from existing backers like Qatar Investment Authority.
Walmart s Flipkart raises US$3 6 billion, SoftBank returns as investor
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Walmart s Flipkart raises $3 6bln in funding, SoftBank back as investor
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Walmart s Flipkart raises $3 6 billion, SoftBank returns as investor
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