ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

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, 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 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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more