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Search engine giant Google is investing nearly $350 million in homegrown Flipkart, becoming the latest high-profile backer of the Walmart-owned homegrown e-commerce company, the media has reported. Google will also provide the e-commerce company with Cloud services, the Bengaluru-based startup announced in a brief statement on Friday, says a report by TechCrunch. Google's investment is part of a nearly $1 billion funding round that Flipkart began last year.

Bentonville, Arkansas-headquartered Walmart has led the round, investing $600 million late in 2023. This move is subject to regulatory and customary approvals. Google's investment and Cloud collaboration aims to help Flipkart expand its business and modernise its digital infrastructure to better serve customers in India.



Also read: Nothing Phone 2a Getting A New Colour Variant In India Flipkart Grocery Grew 1.6 Times Compared To 2023 Notably, Flipkart's grocery business has grown 1.6 times compared to last year.

Flipkart Grocery provides next-day deliveries in over 200 cities in the country, including major metros like Bangalore, Chennai, Kolkata, Mumbai, New Delhi, as well as tier II towns such as Anantapur, Berhampore, Gorakhpur, Moradabad, Nagaon, Saharsa, Shimoga, and Vellore. Valued at $36 billion in the new investment, Flipkart leads the Indian e-commerce market, serving hundreds of millions of consumers in smaller cities and towns. The startup, which also owns fashion e-commerce company Myntra, holds about 48 per ce.

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