Flipkart raises $3.6 bn to fund its India expansion

The Flipkart Group, a homegrown consumer internet ecosystem, on Monday said it raised $3.6 billion to fund its digital commerce activities in India. The fundraise seen participation from global investors, including sovereign funds, private equity and crossovers in addition to Walmart. The new investment values Flipkart Group at $37.6 billion. This round of funding was … Read more

Walmart is pulling plug on more robots

At Walmart Inc., the robots are losing their jobs. The retailer is phasing out the hulking automated pickup towers that were erected in more than 1,500 stores to dispense online orders. The decision reflects a growing focus on curbside pickup services that have become more popular during the Covid-19 pandemic and continues a broader retreat … Read more

Low-profile Indian origin brothers buy British supermarket chain Asda

Walmart Inc., the American retail giant that owns ASDA, confirmed on Friday, EG Group, controlled by the Issas, and TDR Capital, a private equity firm, have together agreed to buy Asda for £6.8 billion. Under the deal, the Issa brothers and TDR Capital will secure a majority stake in the company, with Walmart, which wholly … Read more