Walmart is raising its stake in Flipkart group, the Indian e-commerce company with a fresh investment round of $1.2 Billion. In 2018, Walmart had acquired a majority stake in Flipkart for $16 Billion. Post equity round, the company’s valuation today is $24.9 Billion.
With this funding round, Flipkart will be able to continue its progressive e-commerce growth, expanding through technology, partnerships and new services. Leading in electronics and fashion, Flipkart is rapidly preparing for investment in building up grocery and general merchandise categories, all while providing increasingly seamless payment and delivery options.
The Flipkart Group includes – Flipkart, PhonePe, the digital payments platform, Myntra, the apparel site, and eKart, a logistics and delivery service focused on solving the last-mile delivery.