Bangalore: Ecommerce main Flipkart has invested about $553 million in its market enterprise, in response to a current regulatory submitting in Singapore. Moreover, it has invested $143 million in its healthcare arm Flipkart Well being, these filings present. With the brand new capital coming in, this takes the full money move by Flipkart into the 2 entities—Flipkart Market Pvt Ltd and Flipkart Well being Pvt Ltd—to roughly $700 million.

The contemporary money is being deployed at a time when Walmart-owned Flipkart is scaling up a number of new companies similar to epharmacy, journey, social commerce platform Shopee and doubling its grocery enterprise.

The Bengaluru-based firm has additionally allotted new ESOPs (Worker Inventory Proprietor Program) in Flipkart Pvt Ltd, the submitting confirmed.

The investments in Flipkart Market and Flipkart Well being are made by way of Flipkart Pvt Ltd. Flipkart is domiciled in Singapore and has numerous entities registered in India by way of which it conducts its enterprise right here.

A Flipkart spokesperson declined to touch upon ETTech’s question on Thursday.

Other than {the marketplace} funding, Flipkart’s new cash for the well being unit is critical because it lately appointed Prashant Jhaveri as its CEO.

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In an interview with ET in January, Flipkart Group CEO Kalyan Krishnamurthy had mentioned that healthcare can be one of many companies it desires to scale this 12 months.

Flipkart has additionally made strategic investments for its pharmacology and journey models.

This comes at a time when upstarts like Meesho are attempting to battle larger rivals like Flipkart and Amazon India and Singapore’s Shopee, which abruptly exited the native market earlier this week, first reported by ETTech. Gone.

Final 12 months, Flipkart raised $3.6 billion in its first exterior funding since its acquisition of Walmart in 2018. The spherical valued the corporate at $37.6 billion, in comparison with $24.9 billion in 2020 with $1.2 billion raised in an inside spherical led by Walmart.

Canada Pension Plan Funding Board (CPP Investments), Singapore authorities’s sovereign wealth fund GIC, Japan’s SoftBank Imaginative and prescient Fund 2 and Flipkart’s largest shareholder Walmart led the spherical with participation from present backers similar to Qatar Funding Authority.

“Shopsea, grocery, journey and healthcare, these are large and we now have invested in a giant approach,” Krishnamurthy informed ET in January.

ET reported on February 18 that Flipkart had began delivering groceries in elements of Bengaluru in 45 minutes, halving its fast supply service time from 90 minutes beneath Flipkart Fast. It plans to broaden to 45-minute supply in different cities, however is unlikely to enter the 15-20 minute ultrafast grocery supply enterprise. Krishnamurthy, in his interview with ET, had mentioned that he doesn’t assume that 15-minute supply is the suitable mannequin for shoppers on a longer-term foundation.

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