Flipkart buys stake in MapmyIndia

Flipkart buys stake in MapmyIndia

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India: India’s largest e-commerce firm Flipkart has bought a minority stake in online digital map platform MapmyIndia to boost its location intelligence capabilities. Through this partnership, MapmyIndia will deploy location intelligence capabilities across Flipkart’s logistics network, enabling it to strengthen its first-mile pickup, and last mile delivery operations.

COO and Co-founder, Flipkart, Binny Bansal, said, “The integration of comprehensive and accurate location data will allow us to deliver an even more personalized and delightful experience to our customers.”

Meanwhile, Managing Director and Co-founder, MapmyIndia, Rakesh Verma, added, “We have seen extremely strong demand for our map and location products and solutions from leading e-commerce players, all automotive OEMs and progressive government agencies, and we remain committed to helping all customers across industries benefit from our maps and location technologies.”

The financial details of the deal have not been revealed.

Source: MapmyIndia