Flipkart Internet, the marketplace division of the Walmart-backed company, Through an internal cash transfer, Flipkart Internet, the marketplace division of the Walmart-backed company, received about $171 million from its Singaporean parent.
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This is the Singapore-based company’s second significant funding infusion into Flipkart Internet. It received roughly INR 924 crore ($111 million) last month. About $282 million was given to Flipkart Internet by its Singapore-related firms in 2024 alone.
As previously reported, Walmart was to contribute $600 million to Flipkart’s bid to raise an additional $1 billion in capital. Flipkart’s worth will probably be 5–10% higher than its previous $33 billion valuation thanks to this new funding.
Flipkart has been working to reduce the amount of time it takes to deliver items in a variety of categories. The online retailer began offering free same-day delivery of goods in a number of categories in February.
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The program was first introduced in 20 cities, including smaller towns like Guwahati and Ludhiana as well as major cities like Bengaluru and Delhi.According to an ET story on December 21, Flipkart is also in talks to raise up to $1 billion, with parent company Walmart pledging to contribute $600 million.
About Flipkart Internet
Flipkart Internet Private Limited is an e-commerce company. The company provides flight booking services and sells electronics, apparel, footwear, watches, jewelry, grooming products, toys, furniture, sports, and gaming items on its platform. Flipkart Online caters to clients all around the world.
