Flipkart: India online retail giant raises $3.6bn in latest funding round
The Walmart-backed company said it will use the money to expand its operations and invest further in its grocery, fashion and delivery service.
The new valuation is more than double the amount the American retail chain paid for a majority stake in Flipkart three years ago.
Flipkart's chief executive Kalyan Krishnamurthy said the new funds would support the company's expansion plans: "As we serve our consumers, we will focus on accelerating growth for millions of small and medium Indian businesses."
"We will continue to invest in new categories and leverage made-in-India technology to transform consumer experiences and develop a world-class supply chain," Mr Krishnamurthy added in a company statement.
The new round of funding was led by Singapore's sovereign wealth fund GIC, the Canada Pension Plan Investment Board, Japan's SoftBank and Walmart.
In 2018, Walmart paid $16bn for a 77% stake in Flipkart and said later said that it could take the company public within four years.
