The Flipkart group owned by Walmart said that he had raised $ 3.6 billion from global investor clutch, sovereignty funds, private equity, in addition to Walmart.
The current round will take a assessment to $ 37.6 billion, giving it a shooting power to compete with Amazon, digital reliance in India, even when he prepares a public list in the US in the coming year.
This funding round is led by GIC Financial Investors, Canadian Pension Plan Investment Council (CPP Investments), Softbank Vision Fund 2 and Walmart, along with investment from Soverest funds, Qatar investment authorities, national treasures Berhad, Willoughby Capital, capital between, Franklin Templeton and Global Tiger.
Investment respects groups, which include flipkart, mytra, phoneeepe and Ekart, with $ 37.6 billion post-money.
“Investment by leading global investors reflects the promise of digital trade in India and their belief in the ability of flipkart to maximize this potential for all stakeholders. When we serve our customers, we will focus on accelerating small and medium business growth, including Kiranas. We will Continue to invest in a new category and utilize Made-in-India technology to change consumer experience and develop a world-class supply chain “Kalyan Krishnamurthy, Chief Executive Officer, said the Flipkart group.
Flipkart said he would continue to make deeper investments in all people, technology, supply chains and infrastructure to address the rapidly growing consumer base requirements in India.
Through a growing shopping and mile shipping program, the group will also work with Kiranas to help them digitize and grow.
“One of the themes of the main investment for CPPS investment has become an Asian domestic consumption. We believe India will be the main source of global growth in the next few decades, supported by positive demographics, middle class internet penetration and deepening,” said Agus Tandiono, Director of Implementing, Head of Asian fundamental equity, CPP investment.
At the same time, Lydia Jett, who led back Softbank to Flipkart years after that, “Re-investment Softbank in Flipkart was driven by our experience with and confidence in the company’s management team to continue to handle Indian consumer needs in Indonesia decades to come,”
Parent Walmart Flipkart, who invested in 2018 to acquire the majority pegs, also participated in the round
“Kalyan and the team have placed Indian customers in the center of everything and they continue to innovate in the categories and services of Indian customers most wanted, creating new jobs and growth opportunities for Indian entrepreneurs and small businesses with them”, said Judith McKenna. , President and CEO – Walmart International.
Flipkart said it has more than 350 million registered users from all over the country and has invested in the main categories, including fashion, travel, and wholesalers,
More than 300,000 registered sellers are in the Flipkart market, and 60 percent come from Tier 2 and its surroundings. Flipkart also works with more than 1.6 million Kiranas in India through the wholesale business and its last mile delivery program.
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