<b>Flipkart's</b> $201 Million Cash Injection | RetailTechPodcast

Flipkart's $201 Million Cash Injection

As Walmart-owned Flipkart fights to fend off Amazon and keep afloat amidst tougher e-commerce regulations, the Indian-based business finalises a deal worth US$201 million. The company's Singapore-incorporated parent, Flipkart Pvt has reportedly outlay 1,431 crore or $201 million into its wholesale entity in India. Flipkart first sought fresh capital in October 2018, holding talks with big international corporations like Google. The cash injection comes as the business looks to continue improving its overall sales. In an interview late last year, Flipkart's CEO, Kalyan Krishnamurthy said the business had experienced a transaction growth of "More than 80 percent" in the matter of months, with plans in place to push its new categories, including furniture and groceries. It's believed that Flipkart will spend as much as $2 billion expanding its Indian operations in the next 18-months. US-based competitor Amazon is also ramping up its own local operations, quickly burning through its initial $5 billion investment in India's booming e-commerce sector. Read more