BENGALURU: Flipkart Internet, the marketplace arm of Flipkart, has received about Rs 3,250 crore from its Singapore-based parent entity. According to reports, last year the company had received Rs 1,421 crore from the same parent organisation. The board of Flipkart Internet issued 470,772 equity shares, against this according to its regulatory filings.
Earlier in May last year, Flipkart raised $350 million from Google at a valuation of about $36 billion.
According to Tracxn, Flipkart has raised total equity funding of $12.1 billion so far and its annual revenue as on March 31, 2024 stood at Rs 70,800 crore ($8.56 bn).
With about 85% stake, Walmart is the largest stakeholder in the e-commerce company, followed by Tencent. Tiger Global Management and Google, apart from others, have invested in the company.
Last year, the ecommerce firm entered the quick commerce space with Minutes to compete with players such as Zepto, Swiggy Instamart and Zomato's Blinkit.