In a statement on Tuesday, Flipkart said that it has closed an additional $1.2 billion equity round wherein investment is led by Walmart, Flipkart Group’s majority owner, along with a group of existing shareholders and values the company at $24.9 billion post-money.
“Flipkart Group today closed an additional $1.2 billion equity round to support continued development of its eCommerce marketplace as India emerges from the Covid-19 crisis. The investment is led by Walmart, Flipkart Group’s majority owner, along with a group of existing shareholders and values the company at $24.9 billion post-money,” the company’s statement said.
“It will be funded in two tranches over the remainder of the fiscal year,” it added.
