In a bid to strengthen its logistics network, Flipkart has acquired a strategic minority stake in MapmyIndia, which offers digital map data, location-based apps and tracking, GPS navigation and GIS solutions. The news comes after a report in September earlier this year, which stated that Flipkart was to buy stake in MapmyIndia for around Rs 400 crore. Also Read - Republic Day offers on Flipkart: Best deals on iPhone 14, Nothing Phone (1) and moreAlso Read - Flipkart Year End Sale is now live: Best deals on Poco C31, iPhone 13, Vivo T1 44W and more
With this strategic partnership, Flipkart aims to improve its supply chain and e-commerce efficiency by leveraging the location technologies and map data offered by MapmyIndia. Post Flipkart s investment, early MapmyIndia investors Nexus Venture Partners and Lightbox Ventures are also set to exit the company. Also Read - PhonePe officially separates from parent company Flipkart
Flipkart s strategic investment will also help MapmyIndia to strengthen itself as an independent mapping company that serves consumers and enterprise customers across all industries.
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. The integration of comprehensive and accurate location data will allow us to deliver an even more personalized and delightful experience to our customers,” said Binny Bansal, COO and Co-founder of Flipkart.
The main objective of this partnership is to use MapmyIndia s location intelligence capabilities to enable timely and hassle free pickup and delivery operations. Together with Geo-fencing and real-time shipment tracking, Flipkart will also benefit by better address verification, facility mapping and theft minimization.