Flipkart said on Monday it has raised $3.6 billion at $37.6 billion valuation in what is considered as the pre-IPO round for the Indian e-commerce conglomerate as it works to explore the public markets.
This round of funding was led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, along with investments from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, and marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global. The investment values the Group at US $37.6 billion post-money.
The investment marks the return of SoftBank as an investor for Flipkart. SoftBank had taken the exit from the startup when it was sold to Walmart three years ago.
More to follow…