Flipkart Raises $3.6 Billion As Competition Intensifies; Valuation Jumps To $37.6 Billion
PRIVATEJul 12, 2021
Amount Raised
$3.6 Billion
Round Type
Funding Round
BengaluruCommerce and ShoppingSoftwareE CommerceFashionRetail
Description
Ecommerce major Flipkart has raised $3.6 billion in a new round of funding that will give it a massive firepower to expand online shopping in India and take on rivals like Amazon, Reliance Industries (RIL) and the Tata Group.
Company Information
Company
Flipkart
Location
Bengaluru, Karnataka, India
About
At the time, Flipkart was valued at just under $25 billion, over 13% higher compared to $22 billion that it commanded three years ago. Flipkart’s latest funding, was led by Canada’s CPPIB, SoftBank Vision Fund, along with participation from existing backers like Singapore government’s sovereign wealth fund GIC, Qatar Investment Authority and Walmart, post which the company is has now been valued at over $37.6 billion.
Fundz sees it the moment Flipkart raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
BengaluruCommerce and ShoppingSoftwareE CommerceFashionRetail