Walmart’s Flipkart raises $3.6 billion, SoftBank invests again

Walmart Inc-owned Indian online retailer Flipkart on Monday ushered back Japan’s SoftBank Group Corp as an investor in a $3.6 billion funding round, after which the e-commerce firm will be valued at $37.6 billion.

The fundraise comes amid Flipkart exploring going public in the United States and aiming for a valuation of up to $50 billion.

The latest funding was led by investors GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2 and Walmart, the Bengaluru-based company, which rivals Amazon.com and India’s Reliance Industries, said.

It also attracted investments from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad and private equity firm Blackstone Group-backed Antara Capital among others.