HomeBRAND REVIEWAdani Group to invest in Flipkart's Cleartip

Adani Group to invest in Flipkart’s Cleartip

The Adani Group has picked up a significant minority stake in Flipakrt-owned travel app Cleartip. Over the last few months, Cleartip has emerged as one of the fastest growing online travel spcaces.

The development comes just months after the group group inked a strategic partnership with Walmart-owned Flipkart for a logistics hub and a data centre.

Gautam Adani, chairma of the Adani Group, the investment is an ‘essential part’ of its braoder SuperApp Plans which will be materialised soon.

The details of the deal have been kept under the wrap. Neither of the companies disclosed the size of the investment and the quantum of the Adani Group is set to acquire in Cleartip. Subject to regulatory approvals, the transaction is expected to close next month.

The deal between the two companies comes at a tome when the covid-19 pandemic has accelerated digital adoption in the country, with other high honchos such as liance Industries and the Tata Group also increasing their investments in new-age companies. The Tatas are also building their own SuperApp.

“Since the acquistion by the Flipkart Group, Cleartip has seen 10 times growth in flight bookings. Also, trends observed by Adani airports indicate that the number of passengers at airports has increased, reaching close to pre Covid-19 highs,” according to the statement released on Friday.

“This partnership will further enable Cleartip to transcend digital boundaries and bring end-to-end travel services online.”

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