Google is considering buying a minority stake in Flipkart, which is led by Walmart. Google plans to invest in Flipkart's latest funding round, Flipkart announced on Friday. The proposal by Google is currently under review by regulatory authorities and requires various approvals. However, the exact amount of Google's proposed investment and the total funds Flipkart aims to raise have not been disclosed.
Flipkart explained that as part of the latest funding round, they are set to include Google as a minor stakeholder. The proposal needs approval from regulatory bodies, Flipkart mentioned in a statement. In addition to the investment, Google is also ready to offer cloud support, which would benefit Flipkart's business expansion. This deal would help Flipkart upgrade its digital facilities to provide better services to customers across the country.
Reports suggest that Flipkart might raise around $350 million in this round. However, details about Google’s proposed investment are not yet available.
