Indian ecommerce website Flipkart has picked up a strategic minority stake in MapmyIndia.
The strategic investment will enable Flipkart to deploy Location intelligence capabilities across its logistics network, enabling it to strengthen its first-mile pickup, and last mile delivery operations.
In the future, Flipkart may introduce services such as Address Verification, real-time Shipment Tracking, Facility Mapping and Theft Minimization via Geo-fencing among many others.
Flipkart said its strategy is to transform its growing supply chain through technology. The Delhi-based e-commerce firm will utilize map data and location technologies from MapmyIndia to improve customer experience.
Binny Bansal, COO and co-founder, Flipkart, said: “The integration of comprehensive and accurate location data will allow us to deliver an even more personalized and delightful experience to our customers.”
Following the investment from Flipkart, MapmyIndia’s 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. CE Info Systems, owner of MapmyIndia, provides digital map data, GPS navigation, tracking, location-based apps and GIS solutions.
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