Bengaluru: India’s Flipkart Homegrown e-tailer has collected $ 3.6 billion in funding led by GIC financial investors, Canadian Pension Plan Investment Council (CPP Investments), Softbank Vision Fund 2 and Walmart, along with investment from the Soverest funds, Khazanah, National Khazanah Berhad, and Marquee Investor Tencent, Willoughby Capital, between Capital, Franklin Templeton and Global Tiger.
The investment values of flipkart with $ 37.6 billion post-money.
Kalyan Krishnamurthy, the CEO of the Flipkart group, said that “investment by leading global investors reflects the promise of digital trade in India and their belief in the ability of flipkart to maximize the potential of all these stakeholders.
When we serve our consumers, we will focus on accelerating growth for millions of businesses Small and medium, including Kirana.
We will continue to invest in a new category and utilize Made-in-India technology to change consumer experience and develop world-class supply chains.
“This investment reflects global investor confidence in digital trade in India, which continues to accelerate during Last year when access to products safely and the convenience of foreclosure.
With this development, Flipkart will continue to make deeper investments in all people, technology, supply chains and infrastructure to address the rapidly growing consumer base requirements in India.
The main focus area for Flipkart is to help the informal trade segment utilize the power of technology.
Through a growing groceries and miles shipping program, it will also work with Kiranas to help them digitize and grow.
“One of the themes of the main investment for CPPS investment has become an Asian domestic consumption.
We believe India will be the main source of global growth in the next few decades, supported by positive demographics, growing middle class, and increasingly deep internet penetration,” said Agus Tandono, implementing director and head of Asian fundamental equity, CPP investment.
“This investment in Flipkart is built on our program to provide long-term capital to industry leaders.
We hope to support the flipkart efforts in the Indian e-commerce market.” “Re-investment Softbank in Flipkart is driven by our experience with and confidence in the company’s management team To continue to overcome the needs of Indian consumers in decades to come, “said Softbank investment advisor, said Softbank.
“From our platform as one of the largest Asian e-commerce investors, Softbank has a broad lens on fundamental trends that make up digital trade in the region.
The opportunity to meet consumer demand for high-quality selection with low prices and young populations make important online consumption for India’s search for ‘$ 5 trillion economy’ that the story of flipkart growth has been possible, “Jett added.
“Flipkart is a great business whose growth and potential reflects that India as a whole – that is why we invest in 2018 and why we continue to invest today,” said Judith McKenna, President and CEO – Walmart International.
“Kalyan and the team have placed Indian customers in the center of everything and they continue to innovate in Indian customer categories and services the most wanted, creating new jobs and growth opportunities for Indian entrepreneurs and small businesses with them.
The quality of investor groups and assessments announced today It is further confirmation of global belief in Flipkart and its mission to change trade in India.
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Flipkart raised $ 3.6 billion, appreciated $ 37.6 billion
