Flipkart raises fresh $350 million investment from Google, Retail News and ET Retail

In the latest financing round led by Walmart, Flipkart today announced that it will add Google as a minority investor, subject to regulatory and other customary approvals from both parties.

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 has completed a $1 billion funding round and Alphabet-owned Google has joined the company with a check of $300-350 million, an e-commerce executive said on Friday. According to sources in the know, Flipkart was valued at around $35-36 billion after this round. Walmart raised $600 million in fundraising.

On December 21, ET first reported about Flipkart’s $1 billion financing plan.

The retailer will use a significant portion of that capital to invest in fast trading, which is scheduled to launch in July.