[Funding alert] Flipkart Internet Secures $111 Mn Investment

According to regulatory filings with the Registrar of Companies (ROC), Flipkart Internet, the marketplace division of ecommerce company Flipkart, got a financial inflow of around $111 million in two parts from its linked firms based in Singapore in January.

On January 8 of this year, the company’s associated Singapore-based firms provided the additional funding. The firm’s capital infusion resolutions were adopted on December 20 and December 22 of the previous year, as reported by The Economic Times.

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With this new round of funding, Flipkart is probably valued 5–10% higher than it was previously.

Driven by a sustainable growth strategy, Flipkart is maximising for customers and stakeholders, with over 350 million customers, over 150 million products across 80+ categories, a focus on creating direct and indirect employment, and a commitment to empowering future generations of entrepreneurs and MSMEs.

According to an ET report on December 21, Flipkart is also in talks to raise $1 billion, with parent company Walmart pledging to contribute $600 million.

About Flipkart

Flipkart is a part of the Walmart-owned Flipkart Group, which also includes group companies Flipkart Wholesale, Flipkart Health+, Cleartrip, and Myntra.

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