Earlier reports indicated that Flipkart was seeking to secure a new funding round of $1 billion, with Walmart pledging $600 million. This additional investment is expected to increase Flipkart’s valuation by approximately 5-10% above its previous valuation of $33 billion.
Including this latest funding round, Flipkart India has now received a total of $281 million in investments. The e-commerce giant has been focused on expanding its product offerings in recent times.
The most recent update follows closely on the heels of Flipkart’s decision to enter the quick-commerce sector. In the initial stage of the launch, the company was said to be aiming to expand its services to at least twelve cities. Media reports also suggest that dark stores are being established in various cities such as Bengaluru, Delhi-NCR, and Hyderabad.
Lately, the company has broadened its range of travel services by introducing a bus booking feature on its app. To achieve this, it has established partnerships with various state transport agencies and private service providers. With this addition, Flipkart aims to grant customers access to a whopping 10 Lakh bus connections, spanning across more than 25,000 routes nationwide.
