Flipkart Internet, the online marketplace arm of the Walmart-backed company in India, has received an over SGD655-million (INR3,462-crore) investment from Flipkart Marketplace, Singapore, as per regulatory documents in India.
The fund infusion – done in two tranches – is set to reportedly provide more ammunition to Flipkart, which is locked in an intense battle with US-based Amazon for leadership in the burgeoning Indian e-commerce market.