Flipkart Internet, the marketplace arm of e-commerce firm Flipkart, has secured a fresh capital injection of around $90 million from its two Singapore-based entities, Flipkart Marketplace Pvt Ltd and Flipkart Private Ltd, The Economic Times reported. Walmart owns Flipkart.

The first infusion will be in 2023, with approval on December 29, 2022. The primary sources of income for Flipkart Internet are commissions from sellers, advertisements and other services provided by sellers to merchants. In March 2022, Flipkart Marketplace received $550 million from Walmart.

The cash infusion is expected to help Flipkart compete with US-based Amazon for leadership in India’s electronics market. Amazon has reportedly let go of 1,000 workers in India as part of global layoffs. Flipkart is also under increasing pressure.

In 2022, Flipkart Internet’s operating income rose 33% to Rs 1,047.6 crore, but losses widened to nearly Rs 4,400 crore. Also, in 2018, Flipkart Internet earned Rs 3,462 crore from Flipkart Marketplace.

Flipkart also announced its separation from PhonePe, which it acquired in 2015. Both companies remain part of the Walmart Group. The company has paid $1 billion in taxes since the separation.

“Walmart has paid most of the Rs 78 billion ($943.01 million) in capital gains tax incurred after PhonePe investors sold their stake in the Singapore entity and invested in the Indian entity following a change of residence,” one person with direct knowledge of the matter told Reuters earlier this month.

The company announced a one-time $700 million cash payment to 25,000 employees.