Parent company Walmart infuses nearly $600 mn in e-commerce giant Flipkart

E-commerce giant Flipkart has raised nearly $600 million in fresh funds from parent company Walmart and another investor, signalling a slow return of large deal momentum amid tight liquidity conditions and a global economic slowdown, according to people familiar with the matter.

This is the first major fundraise for the Bengaluru-based firm since 2021, when it raised $3.6 billion from investors including SoftBank and Walmart, valuing the company at $37.6 billion.

SoftBank has exited the firm.

According to sources, the latest financing is likely to value the firm at a 5-10 per cent premium to its previous valuation of $33 billion. The new valuation may cross $40 billion.