"flipkart-group"

Aims to serve kiranas in close to 2,700 cities in India, enabling digital dividends for lakhs of small businesses

The investment values the Group at USD 37.6 billion (about Rs 2.79 lakh crore) post-money, Flipkart said in a statement.

The Flipkart Group said it will acquire a 100 per cent stake in Scapic and welcomes onboard a talented team of experienced developers and designers.

While the financial details of the investment were not disclosed, Flipkart said it will work closely with the USPL team to deepen product offerings on its platforms

This is a Series F funding for USPL from the Flipkart Group along with participation from existing investor Accel Partners.

This second round of funding comes at a time when Flipkart is focusing on growing its Supermart (grocery) and Flipkart Quick (hyperlocal business).