Walmart to boost Flipkart's expansion by raising $3 billion in funds

Retail giant Walmart is reportedly raising up to $3 billion for its e-commerce giant Flipkart to further expand its operations in the country. With new funds, Flipkart's valuation is set to soar to more than $40 billion, giving a fillip to the Indian funding scene which is going through a harsh winter. Flipkart Group in July last year raised $3.6 billion to grow and advance the digital commerce ecosystem in India.