Flipkart, Myntra get fresh funding from parent firm amid aggressive growth push

This marks Flipkart’s fourth internal funding round in just 14 months, underscoring the group’s aggressive growth push amid calls for tighter financial discipline ahead of its anticipated IPO.

Flipkart Internet, the marketplace arm of the Walmart-owned e-commerce major, has received a fresh capital infusion of Rs 2,225 crore (around $262 million) from its Singapore-based parent entity, according to a regulatory filing.

This marks Flipkart’s fourth internal funding round in just 14 months, underscoring the group’s aggressive growth push amid calls for tighter financial discipline ahead of its anticipated IPO.

In April 2025, the parent had infused Rs 3,250 crore ($382 million). Prior to that, Flipkart Internet received Rs 1,421 crore ($171 million) in April 2024 and Rs 950 crore ($111 million) in March 2024, regulatory records sourced via TheKredible showed.

Flipkart Group’s fashion arm Myntra India also received a $125 million boost from its Singapore-based parent FK Myntra Holdings, signalling a parallel push to dominate fashion commerce.

The latest fund infusion comes at a time when Flipkart is scaling its investments in quick commerce, fashion, fintech and artificial intelligence, while also working to significantly lower its burn and ramp up hiring.

At Flipster Connect, an internal event held on May 26, Flipkart CEO Kalyan Krishnamurthy told employees that the company is currently clocking 20–25 percent growth in customers and orders, with a target to hit 30 percent by June. Fashion is driving much of this expansion, accounting for nearly 40 percent of new customer additions across both Flipkart and Myntra, he added.

“Minutes is doing very well, and we’re targeting 800 dark stores by the end of this year,” Krishnamurthy said, referring to Flipkart’s quick commerce vertical. The company is adding two dark stores every day as it races to keep pace with competitors like Blinkit, Zepto, and Swiggy Instamart in India’s high-velocity hyperlocal delivery segment.

The capital flows follow a Rs 8,000 crore ($950 million) fundraise in May 2024 from Google and Walmart, the US retail giant that owns 85 percent of Flipkart Internet. Other shareholders include Tencent, CPP Investments, GIC, SoftBank, and Microsoft. Flipkart is currently valued at $36 billion, according to TheKredible.

Flipkart’s fintech arm, super.money, is also in the spotlight. As Moneycontrol reported earlier, the platform is in talks to raise $60–100 million at a $1 billion valuation, and is a key pillar of the group’s diversified growth thesis.

On the technology front, Krishnamurthy said that Flipkart has ramped up its AI investments six-fold this year, calling it a 'future-readiness' move.

Amid this growth push, Flipkart is under pressure to optimize its financials. The company has been tasked with halving its monthly cash burn to $20 million, with an annual target of $250 million. The dual mandate - to grow fast while spending less - has also prompted a hiring spree, with 5,000 new roles planned in 2025, many of them for Minutes and super.money, Moneycontrol had exclusively reported.

One of the most strategic shifts underway is Flipkart’s plan to shift its legal domicile from Singapore to India, a move Krishnamurthy called 'a statement of intent' aligning the company more closely with India’s regulatory and economic ecosystem.

The string of internal fund infusions suggests Walmart is staying the course with Flipkart’s long-term vision, even as macro conditions remain challenging. But with an IPO on the horizon and competition heating up, the e-commerce giant will need to prove that it can scale sustainably and profitably.