Flipkart will acquire a 100% stake in Scapic and absorb the startup’s team
The Scapic deal is expected to bolster the shopping experience on Myntra, as well as on 2GUD
Flipkart Group on Tuesday said it has acquired augmented reality (AR) startup Scapic for making shopping experience more immersive on its platform. The Walmart-owned e-tailer did not disclose the financial details of the deal.
As part of the transaction, Flipkart will absorb Scapic’s team. The move is part of the company’s efforts to provide “deeper camera experiences, virtual storefronts and new opportunities for brand advertising" on its platform. It has also been investing in online technology to engage first-time users on its platform.
In November, the group had scaled its online gaming capabilities with the acquisition of vernacular social gaming startup Mech Mocha for an undisclosed sum. The e-tailer had backed Mech Mocha in 2015, by participating in its $1 million seed round.
Bengaluru-based Scapic is a cloud-based platform which enables creation and publishing of AR and 3D content and serves clients across e-commerce and marketing.
“At the Flipkart Group we are focused on providing Indian consumers experiences that make shopping online a seamless and more enjoyable experience. This year has accelerated online adoption—be it education, communication or shopping. As we make investments that focus on developing and nurturing the retail ecosystem, we are also committed to making our platform easier to navigate and richer for consumers in terms of content and experience," said Kalyan Krishnamurthy, chief executive, Flipkart Group.
The Scapic deal is expected to bolster the shopping experience on Flipkart-owned Myntra, as well as its social commerce platform 2GUD.
“Customers now require better visuals than ever before. Scapic is building visual technology that brings products to life using AR and 3D. Advancements by the Scapic team in the field of AI (artificial intelligence), computer vision and AR have made this change possible. Scapic’s no-code platform helps create immersive experiences across categories such as fashion, furniture and electronics," said Scapic co-founders V.K. Sai Krishna and Ajay P.V., in a joint statement.
Flipkart, which had raised $1.2 billion from a Walmart-led investors’ consortium in July, has been on a shopping spree as it continues to expand its presence across the retail play through technology enhancements. In recent months, it has also invested in offline retailers, picking up minority stakes in Arvind Youth Brands for ₹260 crore, and a 7.8% stake in Aditya Birla Fashion and Retail Ltd for ₹1,500 crore.