Flipkart infuses $500 mn ahead of Big Billion Days festive season sale

Both Flipkart and Amazon are expected to burn well above $1-1.5 billion in the current fiscal year

Ahead of its upcoming Big Billion Days (BBD) festive season sale, Walmart-backed e-commerce major Flipkart has infused Rs 34.6 billion (approx $487 million) into its India retail platform. The funding came from one of Flipkart’s subsidiaries, which is based in Singapore.

This is the first large cash infusion into Flipkart Internet after Walmart’s acquisition of 77 per cent stake. According to documents filed with the Registrar of Companies, which was sourced from Paper.vc, the investment was made by Flipkart Marketplace Private Limited.

The present fund infusion into Flipkart Internet follows a smaller investment of Rs 4.5 billion, the company made in its