Flipkart in talks to raise $1 billion, $600 million to come from Walmart

E-commerce company Flipkart is in talks to raise $1 billion and its owner Walmart has committed to providing $600 million out of the total, the Economic Times (ET) reported on Thursday citing people aware of the matter.

The report added that the fundraising is likely to increase the company’s valuation by 5-10 per cent from $33 billion earlier. It was valued at $33 billion when it announced a split from PhonePe.

The news of funding comes at a time when Flipkart is struggling to contain losses despite healthy sales, especially during the festive season. During its The Big Billion Days (TBBD) 2023 sale, the company had recorded 1.4 billion customer visits, the highest to date.