Walmart invests $600 million in Flipkart

E-commerce major, Flipkart said on Thursday that its largest shareholder, Walmart will be investing $600 million into the company, as part of its $1 billion fund raise plan. Other internal stakeholders and a few external investors will be putting in the balance $400 million.

Flipkart will use the money to expand its operations, strengthen its supply chain and bolster its tech capabilities. However, this is not a pre-IPO round and another fundraise can be expected next year.

Industry sources said that the ongoing round values Flipkart at a premium of around 5-10% from its previous valuation. Flipkart was last valued at around $35 billion.