Flipkart’s Strategic Funding Boost: Navigating Rivalry and Valuation Surge

Flipkart, the Indian e-commerce giant owned by Walmart, received a fresh investment of $111 million in January 2024 from its Singapore-based entities. This comes as rival Amazon is also aggressively investing in India. Flipkart is also in talks to raise $1 billion, with Walmart contributing $600 million.

This would be Flipkart's first major fundraiser since 2021, when it was valued at $37.6 billion. After separating from PhonePe, Flipkart's valuation is estimated to be around $33 billion. The new funding is expected to increase its valuation by 5-10%.

Flipkart's parent company, Walmart, sees India as a key growth market, alongside Mexico and China. Flipkart's operating revenue grew 42% in 2023, while its losses narrowed by 9%. This new investment is likely to fuel Flipkart's continued growth and competition in the Indian e-commerce market.

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Ipsita Sahu