India’s e-commerce major, Flipkart, has raised $3.6 billion in a fresh round of funding. The round was led by Canada Pension Plan Investment Board (CPP Investments), Singapore government’s sovereign wealth fund GIC, SoftBank Vision Fund 2 and Walmart along with participation from existing backers like Qatar Investment Authority, post which the company has now been…
Flipkart, India’s leading homegrown e-commerce marketplace, announced a strategic and commercial partnership with the Adani Group, India’s largest multinational infrastructure company. In this two-pronged partnership, Flipkart will work with Adani Logistics Limited, the largest diversified end-to-end logistics service provider in the country and a wholly owned subsidiary of Adani Ports & Special Economic Zone Limited,…
Flipkart announced key changes to its leadership team. According to an internal letter sent to Flipkart’s employees by Group CEO Kalyan Krishnamurthy on Monday, Flipkart has appointed former Unilever veteran Hemant Badri as Senior Vice President of its supply chain operations, effective March 1, 2021. Most recently, Badri was the Global Vice President of Planning,…
Flipkart has appointed Saroj Panigrahi, former head of JP Morgan’s legal department in India, as its senior vice president and general counsel. Bijoya Roy, who has led Flipkart’s legal operations since January 2019 will transition to the role of vice president and head of legal at the company and will report into Panigrahi, CEO Kalyan…
Flipkart has reshuffled its board as it prepares to go public in the upcoming years. The Walmart-owned company has added Flipkart Group CEO Kalyan Krishnamurthy along with HDFC CEO and Vice Chairman Keki Mistry to the board. Walmart directors – Suresh Kumar, global CTO & Chief Development Officer with Leigh Hopkins, Executive Vice President of…
The Flipkart Group announced the acquisition of Scapic, an Augmented Reality company, to enhance its immersive shopping experience capabilities. Founded in 2016 by Ajay Ponna Venkatesh and Sai Krishna V K, Scapic is a cloud-based platform which enables creation and publishing of Augmented Reality (AR) and 3D content, currently serving clients across e-commerce and marketing. …
Aditya Birla Fashion and Retail Limited (ABFRL) has announced that it has approved the raising of Rs. 1500 crore by way of preferential issue to Flipkart Group, according to the company’s exchange filings. With this infusion, Flipkart Group will own 7.8% equity stake in ABFRL on a fully diluted basis. The promoter and promoter group…
India’s e-commerce giant Flipkart and its US-based parent Walmart have invested $30 million in Ninjacart, a fresh produce supply chain startup, according to the ETtech report. Flipkart and Walmart said in a joint statement that the investment would deepen their partnership with Ninjacart and would improve its offerings and enhance customer experience. “The e-grocery market…
Flipkart, India’s homegrown e-commerce marketplace, announced the launch of ‘Flipkart Leap’ — the company’s first startup accelerator program to help new and upcoming startups grow, scale, navigate challenges and in turn contribute to India’s growing entrepreneurial ecosystem and boosting ‘Start-Up India’. With the call-for-entries beginning today, Flipkart Leap will identify B2C and B2B startups and…
Indian e-commerce giant Flipkart recently said that it is raising $1.2bn in funding led by majority owner Walmart Inc. The investment, also funded by other existing shareholders, values Flipkart at $24.9 billion, and comes two years after U.S. retail giant Walmart bought the company from its founder for $16bn acquiring more than 70% stake. Flipkart…
The Flipkart Group and Arvind Fashions (AFL) announced that they have strengthened their partnership, through an investment of ₹260 crore by the Flipkart Group to purchase a significant minority stake in AFL’s recently formed subsidiary Arvind Youth Brands which owns the Flying Machine brand. “This investment builds on the long-standing engagement between the two organizations…
Tring, a Mumbai-based celebrity engagement platform, announced it has raised funds from top entrepreneurs and startup investors including Kalyan Krishnamurthy of Flipkart, Sujeet Kumar of Udaan, Gaurav Munjal of Unacademy, Keshav Sanghi of VentureWorks India, Roman Saini of Unacademy, Hemesh Singh of Unacademy, and Sumit Jain of Opentalk amongst others. Earlier, the startup had raised…
Flipkart, has appointed Sriram Venkataraman as Chief Financial Officer (CFO) for Flipkart Commerce (Flipkart and Myntra), post exit of Emily McNeal, who held the role of Flipkart Group CFO since September 2018.Flipkart has appointed Sriram Venkataraman as Chief Financial Officer (CFO) for Flipkart Commerce (Flipkart and Myntra). His appointment is effective immediately, and comes on…
Flipkart, India’s e-commerce firm, announced that it has tied up with Meru, an app-based ride-hailing cab operator, to deliver grocery and essential items to customers during the nationwide lockdown. Grocery and essential items will be delivered to Flipkart customers across Bengaluru, Delhi-NCR and Hyderabad through a safe and sanitized supply chain, the company said in…
Unacademy, an education technology startup, announced it has raised $110 million from Facebook and General Atlantic. Post current funding, the company is valued at $510 million. Existing investors Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures also took part in the funding round. Apart from that, investments were made by Flipkart CEO Kalyan…