Flipkart has closed a nearly $1-billion funding round with Alphabet’s Google joining in with a $350 million cheque, according to a person aware of the matter. The Bengaluru-based online retailer announced Google’s investment on Friday as a ‘minority investor’ but did not disclose the size of the deal or the company’s valuation. According to sources briefed on the investment terms, Flipkart has been valued at around $35-36 billion post this investment. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitUS retail behemoth Walmart, which holds an 85% stake in the Indian etailer, has already pumped in $600 million in the fundraise which kicked off last year.ET first reported about the $1 billion financing round on December 21. In a prepared statement, Flipkart said the investment is subject to regulatory approvals. The companies did not disclose any details of the funding. “Google’s proposed investment and its cloud collaboration will help Flipkart expand its business and advance the modernisation of its digital infrastructure to serve customers across the country,” the company statement added.The etailer will use a significant part of this capital to invest in its quick commerce business, slated for a launch in July, people aware of the plans said. Flipkart is expected to start testing the service in select locations in the coming week before opening it up for all consumers. ET reported on April 19 that about Flipkart and Zepto holding talks for a potential deal but the discussions fell through and are unlikely to be revived, as per people in the know of the matter. Zepto, a top player in the fast-growing quick commerce segment, is understood to have opted for a financial round over a strategic sale, these people said on condition of anonymity as the talks were private. Investment IdeasStock Report PlusePaperWealth EditionView all Stories