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Google is investing nearly $ 350 million in Flipkart , becoming the late high - visibility name to back the Walmart - own Indian e - commerce inauguration .
The Android maker will also provide Flipkart with cloud offerings as part of the slew , the Bengaluru - headquartered startup said in a abbreviated statement Friday . The Google investment is part of a almost $ 1 billion financing round of drinks that Flipkart kick off in 2023 . Walmart has go the round , having invested $ 600 million in it latterly last year . ( Microsoft is also an investor in Flipkart . )
Flipkart , valued at $ 36 billion in the raw investiture , leads the e - DoC market in India , where it serves hundreds of one thousand thousand of consumers in smaller city and towns . The startup , which also owns the mode vitamin E - Department of Commerce startup Myntra , commands about 48 % of the Indian due east - mercantilism market , according to Bernstein .
Flipkart competes with Reliance Retail , Amazon , SoftBank - game Meesho and increasingly a telephone number ofquick - commerce apps . Reliance Retail — flow by Asia ’s ample man , Mukesh Ambani — operates the large retail chain in India and is increasingly attempting toput together an e - commerce gambling . Reliance Retail wasvalued at $ 100 billionin a almost $ 2 billion investiture by QIA , ADIA and KKR last year .
India ’s vitamin E - commerce market is estimate to be worth $ 133 billion by next twelvemonth , according to Bernstein .
“ Native American e - commerce is seeing emergence of competitor across quick / social / vertical commerce . Amazon and Flipkart remain leaders push back by category strengths in mobiles , consumer electronics and appliances . However , unlike large horizontal winner in global e - commerce market , India is likely to see category winners like Blinkit ( quick commerce ) , Meesho ( grade 2 + mart ) and Nykaa ( perpendicular Commerce Department ) as they scale up , ” Bernstein analysts write in a recent note .
Google , which get to more than half a billion people in India , identifies the South Asian nation as a key overseas market . The company unveiled design toinvest $ 10 billion in Indian businessesin 2020 . ( It has sinceinvested $ 4.5 billion in the telecommunication operator Jio Platformsand another$1 billion in Airtel . )
