Flipkart has acquired a strategic minority stake in MapmyIndia (CE Info Systems Pvt. Ltd.) which is India’s leading digital maps provider.
Flipkart will license map data and location technologies from MapmyIndia which will help the e-commerce giant extend a new layer of capability to its existing supply chain and logistics operations, making customer experience timely and hassle free.
Key Highlights of the Deal
- Strategic partnership reinforces Flipkart’s capabilities and efficiencies in supply chain and e-commerce by leveraging MapmyIndia’s map data and location technologies.
- Flipkart’s investment helps strengthen MapmyIndia as an independent mapping company, continuing to serve all 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 personalised and delightful experience to our customers. This partnership is a strategic fit that gives us a sustainable competitive advantage.Binny Bansal, COO and Co-founder, Flipkart
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 enterprise customers across all industries with its full range of products and solutions.
MapmyIndia’s mission is to make the world better through maps and location technologies. We are thrilled to welcome India’s largest e-commerce 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 e-commerce to benefit more than a billion Indians.Rakesh Verma, Managing Director and Co-founder, MapmyIndia
The objective of this partnership is to deploy location intelligence capabilities across Flipkart’s logistics network, enabling it to strengthen its first-mile pick-up, 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 minimisation via geo-fencing among many others.
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