India's Flipkart raises $1.2 bln in Walmart-led funding

Reuters

14 July, 2020, 05:40 pm

Last modified: 14 July, 2020, 05:44 pm

India's Flipkart raises $1.2 bln in Walmart-led funding

The investment is led by Walmart, Flipkart's majority owner, along with a group of existing shareholders, the company said

Reuters

14 July, 2020, 05:40 pm

Last modified: 14 July, 2020, 05:44 pm

The logo of Flipkart is seen on the company's office in Bengaluru, India, May 9, 2018. REUTERS/Abhishek N. Chinnappa

US retail giant Walmart will lead a $1.2 billion investment in its Indian e-commerce unit Flipkart, giving it a valuation of $24.9 billion, Flipkart said on Tuesday.

The investment is led by Walmart, Flipkart's majority owner, along with a group of existing shareholders, the company said.

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