e-commerce store Flipkart

Walmart’s Indian e-commerce store Flipkart raises $3.6 billion in fresh funds

India’s e-commerce giant Flipkart said Monday it raised $3.6 billion in fresh funds from global investors, including sovereign funds, private equity, and from its parent company, Walmart.
The new round of funding was led by Singapore sovereign wealth fund GIC, the Canada Pension Plan Investment Board, SoftBank Vision Fund 2, and Walmart. It also included investments from sovereign funds like Qatar Investment Authority, Malaysia’s Khazanah Nasional Berhad, and disrupted, the venture arm of the Abu Dhabi sovereign fund, ADQ.

India’s e-commerce giant Flipkart said Monday it raised $3.6 billion in fresh funds from global investors, including sovereign funds, private equity, and from its parent company, Walmart.

The new round of funding was led by Singapore sovereign wealth fund GIC, the Canada Pension Plan Investment Board, SoftBank Vision Fund 2, and Walmart. It also included investments from sovereign funds like Qatar Investment Authority, Malaysia’s Khazanah Nasional Berhad, and disrupted, the venture arm of the Abu Dhabi sovereign fund, ADQ.

“This investment by leading global investors reflects the promise of digital commerce in India and their belief in Flipkart’s capabilities to maximize this potential for all stakeholders,” Flipkart CEO Kalyan Krishnamurthy said in a statement.

Read more: https://www.cnbc.com/2021/07/12/india-e-commerce-giant-flipkart-.html

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