Flipkart buys stake in MapmyIndia to improve delivery operations
1 min read . Updated: 04 Dec 2015, 03:29 PM IST
PremiumBoth Flipkart and MapmyIndia didn't disclose the financial details of the deal
Bengaluru: India’s largest e-commerce firm Flipkart has bought a minority stake in digital maps provider MapmyIndia to improve its supply chain efficiency.
The companies didn’t disclose the financial details of the deal.
Flipkart will license map data and location technologies from MapmyIndia (promoted by CE Info Systems Pvt. Ltd) and deploy location intelligence capabilities across its logistics network to strengthen its delivery operations. Flipkart plans to introduce services such as real-time shipment tracking and theft minimization.
“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," Flipkart chief operating officer Binny Bansal said in a statement. “The integration of comprehensive and accurate location data will allow us to deliver an even more personalized and delightful experience to our customers."
Earlier this week, Flipkart led a $9-million-round investment in QikPod, which aims to solve last-mile delivery issues by providing automated self-serve lockers that can be accessed by courier companies.
Flipkart was in talks to invest in MapmyIndia and two other supply chain technology firms to improve its logistics efficiency, Mint had reported on 24 November.
With Flipkart’s investment, MapmyIndia’s early financial investors Nexus Venture Partners and Lightbox Ventures will exit the company. MapmyIndia will continue to operate as an independent entity and work with other customers.
