#Asia Flipkart buys minority stake in GPS navigation firm MapmyIndia


The e-commerce giant will deploy location intelligence capabilities across its logistics network to strengthen first-mile pickup and last-mile delivery operations

mapmyindiaIndian e-commerce giant Flipkart has acquired a minority stake in GPS navigation and location-based services provider MapmyIndia, according to an official statement.

The size of the deal has not been disclosed.

The partnership is aimed at deploying location intelligence capabilities across Flipkart’s logistics network in order to strengthen its first-mile pickup and last-mile delivery operations. The Bangalore-based online marketplace will also license map data and location technologies from CE Info Systems, owner of MapmyIndia.

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MapmyIndia will, however, continue to independently serve all consumers and enterprises customers across all industries with its products and solutions.

With this deal, MapmyIndia’s investors Nexus Venture Partners and Lightbox Ventures have exited the firm.

“The integration of comprehensive and accurate location data will allow us to deliver an even more personalised experience to our customers. This partnership is a strategic fit that gives us a sustainable competitive advantage,” said Binny Bansal, COO and Co-founder of Flipkart.

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Established in 1992 by Rakesh Verma and Rashmi Verma, Delhi-based MapmyIndia provides digital map data, navigation and tracking products, besides GPS- and GIS- based systems integration services.

Launched in 2007 by Sachin Bansal and Binny Bansal, Flipkart is the largest home-grown e-commerce company in India with over 45 million registered users, clocking over 10 million daily visits and delivering 8 million shipments each month.

Cash-rich consumer Internet companies have been investing to strengthen their logistics and last-mile delivery. Early this week, Flipkart participated in a US$9 million funding round in Internet of Things (IoT)-based last-mile delivery startup QikPod.

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A few days ago, India’s leading taxi and auto-rickshaw booking app Ola announced a partnership with MapmyIndia for mapping data.

The post Flipkart buys minority stake in GPS navigation firm MapmyIndia appeared first on e27.

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