Friday, 24 March, 2023

Flipkart raises $3.6 bn at a valuation of $37.6 bn

<p>Flipkart said it has raised $3.6 bn in capital from few global investors, sovereign funds, PE, and parent Walmart. The current financing will raise its valuation to $37.6 bn, providing it the much financial muscle to battle in India against the giants including Amazon, Tata Digital, Reliance, and Myntra. In the coming year, Flipkart plans to go public in the US. The e-com platform has over 300,000 sellers are on the marketplace of which 60 % are tier 2 cities and beyond.</p>