Google and Flipkart were not immediately available to
confirm the value of the investment.
The tech giant will join in as an investor in the latest
funding round for the Bengaluru-based company, Flipkart said in a statement.
The round will be led by Walmart, Flipkart’s biggest
shareholder and will make Google a minority investor, subject to approvals.
“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 said in
a statement.
In December 2023, a Flipkart spokesperson confirmed that
Walmart was set to infuse $600 mln in the company as part of a $1 billion
round.
Flipkart has been a source of IPO speculation since Walmart
took over the company, which competes with Amazon.com in India.
Earlier this month, executives at the U.S. retail giant said
they are “looking and exploring” for the right time for Flipkart’s initial
public offering. © Reuters
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