Google will invest $350 million in Flipkart as part of its Cloud deal

Google is set to acquire a $350 million minority stake in Walmart-backed Flipkart, India’s leading e-commerce company, according to a Reuters report.
Flipkart said Google will join as an investor in the latest round of funding led by Flipkart’s largest shareholder, Walmart.

“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,” Flipkart said in a statement.

Flipkart has not revealed the details of Cloud’s collaboration with Google Cloud. Google Cloud is the third largest cloud service provider in the world. Google Cloud competes with Amazon Web Services and Microsoft Azure.

Since Walmart competes with Amazon.com in the Indian online retail market, Flipkart is unlikely to partner with Amazon Web Services for its cloud platform.

In December 2023, a Flipkart spokesperson confirmed that Walmart plans to invest $600 million in the company as part of a $1 billion funding round.

Earlier this month, Walmart indicated it was examining the right timing for Flipkart’s IPO.