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Flipkart raises another $1.2bn from Walmart-led investors

Latest round values Indian e-tailer at $25bn as it battles Amazon and JioMart

India's e-commerce marketplace is becoming a battleground for three well-funded operators -- Walmart's Flipkart, Amazon.com and Reliance Industries' JioMart.

NEW DELHI -- India's leading e-commerce platform Flipkart says it has raised $1.2 billion in a funding round led by majority owner Walmart as rivals Amazon.com and Reliance Industries' JioMart intensify the battle for e-commerce supremacy in the country of over 1.3 billion.

The announcement on Tuesday came two years after the U.S. retail giant spent $16 billion for a 77% stake in Flipkart. It also comes amid a COVID-19 surge in India -- the third worst hit country, with more than 935,000 infections and over 24,300 deaths -- and a strict lockdown forcing Indians to go online to shop.

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