Walmart-owned Flipkart to invest in grocery, last mile delivery after raising US$3.6B in latest funding round

INDIA — Flipkart, a rapidly expanding e-commerce giant backed by Walmart, has raised US$3.6 billion in the latest funding round led by Canada Pension Plan Investment.   GIC, SoftBank Vision Fund 2, and Walmart also participated as lead investors in the funding round, doubling the Indian online retailer’s valuation to US$37.6 billion in less than three years.  Flipkart says that the new funding round will be used to expand operations and invest further in the company’s grocery, fashion, and last-mile delivery programs.  Like Amazon, Flipkart began by selling books but diversified rapidly into selling smartphones, clothing, and…

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Flipkart to expand warehouse capacity to strengthen grocery handling infrastructure

INDIA –  Flipkart, one of the largest online grocery retailers in India, has said it plans to expand its fulfilment centre capacity for grocery by more than 8,000 sq ft over the next three months across Delhi, Kolkata and other cities. The Walmart-owned company said in a statement that the additional fulfilment centre capacity will bolster its capacity to cater to over 73,000 grocery orders per day. “With this additional infrastructure, the marketplace will bring the ease of online grocery shopping to more users across the country,” a statement said.…

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Flipkart expands grocery service to Pune amid Covid-19 movement restrictions

INDIA – Walmart-backed e-commerce Company, Flipkart has launched grocery services in Pune, a sprawling city in the western Indian state of Maharashtra amid surging demand for home deliveries occasioned by movement restrictions imposed by the state. . The state of Maharashtra, where the city of Pune is situtated, has imposed curfews from 7am to 6pm during weekdays and total lockdowns during the weekend to curb the spread of the corona virus. Data from the ministry of India shows that the country is currently in its third wave with daily cases…

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Flipkart Grocery targets to reach 70 Indian cities in 6 months

INDIA – Flipkart Grocery, one of the largest e-grocery stores in India, has expanded its grocery services to more than 50 cities via Marketplace, and now aims to reach over 70 cities before the end of the year. The Walmart- owned grocery business has witnessed 3 times growth in the last one year largely due to a pandemic driven shift towards online buying. RedSeer’s analysis highlights that e-groceries grew by nearly 75% in the lockdown period alone. A KPMG report expects Indian online groceries to grow steadily for the rest…

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E-commerce group Flipkart acquires Walmart India and set to launch a new digital marketplace

INDIA – The Flipkart group, Indian e-commerce group, has announced that it has acquired 100% interest in Walmart India Private Limited, which operates the Best Price cash-and-carry business, to bolster its wholesale marketplace operations, and in doing so, has made plans to launch a new digital marketplace. The new digital marketplace, called Flipkart Wholesale, will provide wholesale goods to kiranas and other small retailers in India. Kiranas are independent retailers and small businesses, similar to neighbourhood stores, that sell a variety of retail products. Flipkart Wholesale will provide a wide product selection at significant value, powered by…

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Walmart and Flipkart invest in Indian fresh produce supply chain startup Ninjacart

INDIA – Walmart and Flipkart have announced a joint strategic investment in supply chain start-up Ninjacart to strengthen their direct sourcing of fresh produce and enable Ninjacart to expand its customer base. T​he three partners aim to help ensure better access to high-quality fresh produce for more retailers and consumers across India while also creating economic opportunities for farmers. Partnering with Ninjacart will help Walmart and Flipkart strengthen direct sourcing of fresh produce for Walmart India’s Best Price Business-to-Business cash-and-carry stores and Flipkart’s online grocery business Supermart. The investment will…

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India’s online grocery retail market set to reach US$10.5bn by 2023

INDIA – Online food and grocery retail in India is estimated to hit US$10.5 billion or 1.2% of the overall market by 2023, according to a recent report released by consulting firm Redseer. Redseer forecasts that growth in the sector, which currently accounts for just 0.2% of the overall market, will be driven by an increased assortment of products and efforts like express delivery operations. Currently, online platforms including Bigbasket and Grofers have been the most prominent players in the industry. Bigbasket currently has over 100,000 orders a day, while…

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Flipkart establishes new entity FarmerMart to venture into India’s food retail sector

INDIA – Walmart-owned ecommerce company, Flipkart has formed a new entity – the Flipkart FarmerMart Pvt Ltd – as the company prepares to enter into the food retail business in India. The new entity will focus on food retail of products manufactured and produced in India through offline and online distribution and sup infrastructure throughout the nation. In a regulatory filing earlier this week, Flipkart revealed that it has authorized to invest US$258 million (Rs 1,845 crore) in the new venture, which Kalyan Krishnamurthy, Flipkart Group CEO said it has…

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Flipkart to eliminate single-use plastic in packaging by 2021

INDIA – Flipkart, the wholesale arm of the Walmart-owned e-Commerce marketplace in India, has announced that it plans to eliminate single-use plastic in packaging by March 2021. The e-commerce firm said it will move towards a 100 per cent recycled plastic consumption in its own supply chain. According to the company, it has achieved a 25 per cent reduction in single-use plastic, through various initiatives across its packaging value chain- as of August 1, 2019, reports ET Retail. “Flipkart also made a commitment to eliminate single use plastic in packaging…

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Flipkart launches fund to support early stage startups in India

INDIA – The ecommerce company, Flipkart has announced a new fund to support growth and development of early stage startups in India. According to the firm, the fund targets companies working in areas related to e-commerce, financial technology, payments and complementary spaces to drive innovation in their spaces of operation. With an aim to build the ecosystem with world-class founders and ideas, the internal fund will help the companies with the capital needed to expand their innovation. “With this initiative, we’re delighted to support such innovative early-stage start-ups that are…

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