Walmart's Flipkart in talks to raise $3 billion from SoftBank, others - Bloomberg News

FILE PHOTO: The logo of India's e-commerce firm Flipkart is seen in this illustration picture taken January 29, 2019. REUTERS/Danish Siddiqui/Illustration/File Photo

(Reuters) - Walmart Inc-owned Indian e-commerce firm Flipkart is in talks to raise at least $3 billion from investors including Japan's SoftBank Group Corp and several sovereign wealth funds, Bloomberg News reported https://www.bloomberg.com/news/articles/2021-06-07/flipkart-is-said-in-talks-for-3-billion-from-softbank-others?utm_campaign=socialflow-organic&cmpid=socialflow-twitter-business&utm_source=twitter&utm_medium=social&utm_content=business&sref=ZoyErlU1 on Monday.

The startup is aiming for a valuation of about $40 billion and is in talks with Singapore's GIC Pte., Canada Pension Plan Investment Board and the Abu Dhabi Investment Authority, the report said, citing people familiar with the matter.