Google is investing approximately $350 million in Flipkart, becoming the latest well-known company to support Walmart’s Indian e-commerce venture.
Google will invest $300-350 million in Flipkart as part of the latest round, led by Walmart. announced that it will add Google as a minority investor, subject to both parties obtaining regulatory and other customary approvals,” according to a media statement.
As part of the partnership, the Android creator will also provide cloud services to the Bengaluru-based startup, according to a brief statement released Friday. The investment is part of Flipkart’s almost $1 billion funding round, which started last year. Walmart spearheaded the round, spending $600 million late last year.
Tech titan Google will be investing $300-350 million in Flipkart as part of the latest round that is being led by Walmart.
“As part of the latest funding round led by Walmart, Flipkart today
announced that it will be adding Google as a minority investor, subject to receipt of regulatory and other customary approvals by both parties,” the media statement said.
Google’s proposed investment and its Cloud collaboration will help Flipkart expand its business and advance the modernization of its digital infrastructure to serve customers across the country.
Flipkart, which competes with Amazon and Meesho, dominates India’s e-commerce market, servicing hundreds of millions of people in small towns and cities.
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