E-commerce giant Flipkart, owned by Walmart in India, is set to receive a new influx of capital as Google joins the list of investors. Google is anticipated to invest nearly US$350 million (around RMB 2.54 billion) in Flipkart, securing a minority stake. This investment is part of a larger funding round spearheaded by Walmart. However, the deal is still pending regulatory approval and the finalization of terms between the two companies.
Walmart's Continued Investment
Beyond just the investment, Google will also offer cloud services to Flipkart. This cloud partnership aims to bolster Flipkart’s digital infrastructure and support its growth plans. Flipkart views this collaboration as a strategic move to "scale its business and modernize" its operations. Reports suggest that this investment is a segment of Flipkart’s nearly $1 billion funding round initiated in 2023. Walmart has already taken a leading role, having invested $600 million last year.
Flipkart's Market Position
Currently, Flipkart maintains a leading position in the Indian e-commerce market, with competitors like Amazon and Meesho trailing behind. Google’s investment underlines its dedication to the Indian market, following its earlier commitment of $10 billion (around RMB 72.5 billion) in Indian companies back in 2020. This commitment is further evidenced by Google’s prior investments in Jio Platforms ($4.5 billion) and Airtel ($1 billion).
