Flipkart’s parent company invested $90 million in its Indian marketplace arm

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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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Flipkart’s parent company invested $90 million in its Indian marketplace arm

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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