To transform supply chain through technology Flipkart has acquired a strategic minority stake in MapmyIndia (CE Info Systems Pvt. Ltd.).
With this partnership Flipkart will 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.
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.
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. The integration of comprehensive and accurate location data will allow us to deliver an even more personalized and delightful experience to our customers.”
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. We look forward to sharing our domain expertise with them and adding new and fresh dimensions to their logistics operations, together transforming ecommerce to benefit more than a billion Indians.”