Flipkart’s Singapore-based parent company has invested INR 722 Cr ($90 Mn) in its Indian marketplace arm.
Flipkart is based in Singapore and has a number of subsidiaries in India. While Flipkart Internet runs the marketplace, Flipkart India is the company’s B2B division. According to regulatory filings obtained by Inc42, the resolution to inject new capital into Flipkart Internet was approved by its board of directors on December 29, last year. The new funds were raised by two Singapore-based entities, Flipkart Marketplace Private Limited and Flipkart Private Limited. The ecommerce behemoth’s plans for the funds were not immediately clear.
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