Flipkart announced Thursday that it has acquired a strategic minority stake in CE Info Systems Pvt Ltd, the makers of MapmyIndia.
The business partnership will see
Flipkart license map data and location technologies from MapmyIndia, extend a new layer of capability to its supply chain and logistics operations, and provide a hassle-free and timely customer experience, the company said.
Flipkart will deploy MapmyIndia's location intelligence capabilities across its logistics network, strengthening its first-mile pickup and last-mile delivery operations, with several unique and industry-first services in the pipeline, such as better address verification, real-time shipment tracking, facility mapping, and theft minimisation via geo-fencing.
MapmyIndia will continue to independently serve all consumers and enterprises customers across all industries with its full range of products and solutions, the company said in an emailed statement.
With Flipkart's investment, MapmyIndia's early financial investors, Nexus Venture Partners and Lightbox Ventures, will exit the company.
The integration of comprehensive and accurate location data will give Flipkart sustainable competitive advantage, said Binny Bansal, COO and Co-Founder, Flipkart in an emailed statement. "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," he said.
Cab aggregator
Ola had partnered with MapmyIndia in November, acquiring a multi-year license.