Flipkart acquires strategic minority stake in MapmyIndia

NEW DELHI, INDIA: Flipkart has acquired a strategic minority stake in MapmyIndia, a digital map data, GPS navigation, tracking, location-based apps and GIS solutions.

Flipkart’s strategy to transform supply chain through technology is bolstered by this business partnership to license map data and location technologies from MapmyIndia. This will extend a new layer of capability to Flipkart’s existing supply chain and logistics operations, making customer experience timely and hassle free.

The objective of this partnership is to deploy Location intelligence capabilities across Flipkart’s logistics network, enabling it to strengthen its first-mile pickup, and last mile delivery operations. In the future, several unique and industry-first services are likely to be introduced, e.g. better Address Verification, real-time Shipment Tracking, Facility Mapping and Theft Minimization via Geo-fencing among many others.

Speaking on the occasion, Binny Bansal, COO and Co-founder, Flipkart, said, “With this strategic investment, we are taking another concrete step toward transforming the supply chain ecosystem in India, making technology and information the driver of our supply chain and logistics solutions.”

Adding to this, Rakesh Verma, Managing Director and Co-founder, MapmyIndia, said, “We are thrilled to welcome India’s largest ecommerce marketplace, Flipkart, as a strategic minority investor, and are excited by their vision for leveraging our maps and location technologies.”

With Flipkart’s investment, MapmyIndia’s early financial investors, Nexus Venture Partners and Lightbox Ventures, will exit the company. MapmyIndia will continue to independently serve all consumers and enterprises customers across all industries with its full range of products and solutions.