Flipkart Internet, the marketplace division of Walmart-owned Flipkart, has raised 533 crore rupee (US$62 million) from its Singapore-based parent, Flipkart Marketplace Private Limited, and its subsidiary, Quickroutes International Private Limited.

Regulatory filings with the Registrar of Companies (RoC) indicate that the funds were raised through the issuance of 76,179 equity shares at a price of 69,966.28 rupee (US$839) each via a rights issue.

This funding round is the second significant infusion for Flipkart Internet from its Singapore-based entities in 2025.

The new funding comes at a time when Flipkart is drawing up plans for its highly anticipated initial public offering (IPO).

🔗 Source: Inc42

🧠 Food for thought

1️⃣ The reverse flipping trend reflects India’s maturing startup ecosystem

Flipkart’s plan to shift its domicile back to India is part of a broader “reverse flipping” movement among Indian startups that were previously incorporated abroad.

This trend is primarily driven by improved access to domestic capital markets, supportive regulatory reforms, and growing investor confidence in Indian public markets, with a survey showing 78% of investors believe IPO opportunities are fueling this movement1.

Companies like PhonePe, Razorpay, and Zepto have already completed their reverse flips, reflecting the changing perception that Indian domicile is no longer a disadvantage for fundraising or valuations2.

The phenomenon represents a significant shift from earlier years when startups moved abroad seeking better funding environments and smoother operational frameworks.

Despite substantial tax implications, many companies view domestic registration as strategically beneficial for their IPO ambitions3.

2️⃣ Flipkart’s funding journey mirrors India’s evolution from startup skepticism to global credibility

Flipkart’s latest funding round of ₹533 crore continues a remarkable financial trajectory that began with just ₹4 lakh (~$6,000) when Sachin and Binny Bansal founded the company in 20074.

The company’s valuation has experienced dramatic swings—from achieving unicorn status in 2012 with a $1 billion valuation, peaking at $15.5 billion in 2015, facing markdowns to $5.6 billion in 2016, before Walmart’s acquisition at $21 billion in 201845.

This evolution reflects India’s broader startup ecosystem development, where early skepticism from investors has transformed into substantial global confidence, with Flipkart having raised approximately $12.6 billion over its lifetime6.