Google invests $350 million in India’s Flipkart

Google is investing nearly $350 million in Flipkart, becoming the latest high-profile name to back the Walmart-owned Indian e-commerce startup.

The Android-maker will also provide the Bengaluru-headquartered startup with cloud offerings as part of the deal, the two said in a brief statement Friday. The investment is part of a nearly $1 billion funding round, which Flipkart initiated last year. Walmart has led the round, having invested $600 million in it late last year.

Flipkart, which competes with Amazon and Meesho, leads the e-commerce market in India, where it serves hundreds of millions of consumers in smaller cities and towns.

This is a developing story. More to follow.