Flipkart buys stake in MapmyIndia

E-commerce portal Flipkart has bought a minority stake in CE Info Systems, a digital mapping business MapmyIndia in an effort to boost its supply chain network. MapmyIndia's early investors Nexus Venture Partners and Lightbox Ventures will leave the company soon after this.

"This will extend a new layer of capability to Flipkart's existing supply chain and logistics operations, making customer experience timely and hassle free," the official statement said.

Flipkart plans to use location intelligence from MapmyIndia across its logistics network to strengthen its first-mile pickup and last mile delivery services. It will also leverage MapmyIndia's data for better address verification, real-time shipment tracking, facility mapping and theft minimization.

"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," said Binny Bansal, COO and Co-founder, Flipkart. "This partnership is a strategic fit that gives us a sustainable competitive advantage."

MapmyIndia will continue to serve all consumers and enterprises across industries with its full range of products.

Image credits: Indiatimes