Flipkart burns over $3.7 billion cash in about a year till Sep 2022

E-commerce major Flipkart has burnt cash of USD 3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings.

Flipkart had USD 1 billion in cash in July 2021, which came down to USD 887 million by September 2022.

The company, in July 2021, raised USD 3.6 billion (about Rs 29,000 crore), which has been completely exhausted, according to regulatory filings of Flipkart and Walmart.

It is the biggest cash burn in a year by any new-age company in the country, according to industry estimates.

A Walmart regulatory filing shows that the company had approximately USD 1.1 billion as of July 31, 2022.