Flipkart is preparing to raise $1 billion in a new funding round. According to the report of DealStreet Asia, in the regulatory filing, the company said that out of the $1 billion fund, Walmart has already given $600 million to Flipkart. According to the Moneycontrol report, other internal stakeholders and some external investors will contribute the remaining $400 million.

The company is planning to strengthen its operations supply chain and technology capability. According to the report, a major part of the new funding round will be spent on these things.

According to the report, sources said that this is not a pre-IPO round and preparations are being made to raise another fund in the next year. Flipkart confirmed the news to Moneycontrol and said that Walmart is investing $600 million, although the company did not comment on how the remaining $400 million will be raised.

According to CNBC, the current round value of the Bengaluru-based e-commerce giant is 5-10 percent higher than its previous valuation. After separation from PhonePe, the valuation of Flipkart is around Rs 33 billion.

The discussion of raising new funds comes a few months after media reports indicated that early investors, including Accel, Tiger Global, and Franklin Templeton, had sold all their shares in Flipkart to Walmart. In 2018, American company Walmart bought a 77 percent stake in Flipkart for $16 billion. According to Tracxn's data, its stake in Flipkart has now increased to 80.5 percent.