Google will buy stake in Flipkart in a funding round led by Walmart

Google has proposed investing in Flipkart, a large e-commerce company, to buy a minority stake.

Bangalore:

Flipkart today announced the addition of Google as a minority investor in the e-commerce platform in its latest funding round led by Walmart.

The move, coming at a time when India’s digital economy is growing at a much faster pace, is subject to regulatory and other customary approvals from both parties, the homegrown e-commerce company said in a statement.

“Google’s proposed investment and cloud collaboration will help Flipkart expand its business and accelerate the modernization of its digital infrastructure to serve customers across the country,” the homegrown company said.

Founded in 2007, Flipkart has enabled millions of sellers, merchants and small businesses to participate in India’s digital commerce revolution.

It currently has a registered user base of over 500 million and the marketplace offers over 150 million products in over 80 categories.

According to the company, there are over 1.4 million sellers on the platform, including Shopsy sellers.

Earlier this week, the e-commerce platform said it had seen 1.6-fold growth (year-on-year) in its food business.

The company has launched 16 food logistics centers in key locations in the country.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)