Softbank invests undisclosed amounts in India’s Flipkart

Softbank invests undisclosed amounts in India’s Flipkart

India’s homegrown eCommerce giant, Flipkart, has just raised funds from a fund owned by Japanese Softbank.

According to CNBC, the amount has not been disclosed to the public.

According to CNBC, the SoftBank Vision Fund invested in Flipkart via a mix of direct capital infusion and buying out stakes from some of the firm’s existing investors, the statement said without giving details.

Cummulative cash holdings of Flipkart is now estimated at USD4.8 billion as a result of the deal.