Bengaluru: Walmart Inc.-owned Indian e-commerce firm Flipkart is in talks to raise at least $3 billion from investors including Japan’s SoftBank Group Corp. and several sovereign wealth funds, Bloomberg News reported.
The Economic Times was the first to report on a likely Flipkart funding on June 4.
The startup is aiming for a valuation of about $40 billion and is in talks with Singapore’s GIC Pte. Ltd, Canada Pension Plan Investment Board and the Abu Dhabi Investment Authority (ADIA), the report said, citing people familiar with the matter. SoftBank could invest $300-500 million of the total through its Vision Fund II, according to the report.
