Flipkart Internet receives Rs 1,421 crore from Flipkart’s Singapore-based holding company

E-commerce major Flipkart has invested a total of Rs 1,421 crore from its Singapore-based holding company into Flipkart Internet, its Indian marketplace. The internal cash transfer is the second such funding injection Flipkart Internet has received this calendar year.

Flipkart invested the funds in Flipkart internet in two tranches, one on March 23 and one on April6, ET Tech reported, citing filings made at the Registrar of Companies. Flipkart internet had also received $111 million in early March from Flipkart which, added to its recent investment, brings the business’ total internal funding this year to $281 million.
 
Flipkart continues to expand and bolster its online capabilities and its delivery options. The business plans to launch a quick commerce service to meet the increasing demand for swift deliveries in India which could be where some of this new funding is heading.
 
Flipkart’s main business is also currently holding talks to raise funds, the Economic Times reported. The business could raise up to $1 billion and its US-based parent company Walmart planning to add $600 million itself. Flipkart has not carried out a fundraise featuring external entities since 2021 when it raised a total of $3.6 billion.