NE BUSINESS BUREAU
NEW DELHI, NOV 17
Walmart-owned Flipkart on Tuesday said it has acquired Bengaluru-based augmented reality company, Scapic, a move that will help the e-commerce major enhance its immersive shopping experience capabilities.
“Through the acquisition of Scapic, the Flipkart Group will acquire a 100 percent stake in the company and welcomes onboard a talented team of experienced developers and designers,” a statement said.
This team will work towards accelerating the company’s efforts to provide deeper camera experiences, virtual storefronts, and new opportunities for brand advertising on its platform, it added.
However, the company did not disclose the financial details of the transaction.
With the pandemic bringing about a change in consumer behaviour and an increase in online adoption, Flipkart has been focusing on enhancing consumer experiences through several investments, including strengthening technology capabilities, the statement said.
In addition to providing local language interfaces on its platform for consumers across the country, the company also recognises the Indian consumers’ preference for experiences that replicate the tangible shopping process, Flipkart noted.
“As we make investments that focus on developing and nurturing the retail ecosystem, we are also committed to making our platform easier to navigate and richer for consumers in terms of content and experience. I welcome the Scapic team to Flipkart as we continue our efforts to provide deeper value to our customers,” Flipkart Group CEO Kalyan Krishnamurthy said.
Founded in 2017 by Sai Krishna V K and Ajay P V, Scapic is a cloud-based platform that enables the creation and publishing of Augmented Reality (AR) and 3D content, currently serving clients across e-commerce and marketing.
Earlier this month, Flipkart had acquired Intellectual Property from Mech Mocha to strengthen its gaming strategy and made a strategic investment in USPL – a premium youth-focused fashion firm that operates brands like Wrogn – to strengthen its fashion portfolio.
Last month, Flipkart Group had made a Rs 1,500 crore investment in Aditya Birla Fashion and Retail Ltd (ABFRL).
