Walmart’s Flipkart Raises Funding at $37.6 Billion Valuation

Flipkart completed a fundraising round valuing the Indian online retailer at $37.6 billion, with main owner Walmart Inc. joining investors including SoftBank Group Corp. in injecting $3.6 billion of fresh capital.

Tencent Holdings Ltd., Blackstone Group Inc.-backed Antara Capital and several sovereign wealth and pension funds also participated, the company said Monday in a statement. Those include Abu Dhabi’s sovereign fund ADQ, Singapore’s GIC Pte, Qatar Investment Authority and Canada Pension Plan Investment Board.

The funding round is a boon for Flipkart and U.S. retail giant Walmart, which bought a majority of the Indian company three years ...