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Startups

SoftBank returns in Flipkart's $3.6bn funding round

Appetite for Indian startups strong as Chinese tech comes under scrutiny

Masayoshi Son's Softbank Group is back after previously selling its stake in India's Flipkart. (Source photos by Masaru Shioyama and AP)

TOKYO -- India's leading online retailer Flipkart on Monday said it raised $3.6 billion from a group of investors in a deal that valued the company at $37.6 billion.

The funding round was led by Singaporean sovereign wealth fund GIC, Canada Pension Plan Investment Board, SoftBank Group's Vision Fund 2 and U.S. retailer Walmart, according to Flipkart. Tencent Holdings, Malaysia's Khazanah Nasional Berhad and other investors also participated.

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