India: FlipKart picks minority stake in MapmyIndia; Early investors Nexus, Lightbox exit

Photo: Mint

India’s largest e-commerce firm Flipkart has bought a minority stake in digital maps provider MapmyIndia to improve its supply chain efficiency.

The companies didn’t disclose the financial details of the deal.

Flipkart will license map data and location technologies from MapmyIndia (promoted by CE Info Systems Pvt. Ltd) and deploy location intelligence capabilities across its logistics network to strengthen its delivery operations. Flipkart plans to introduce services such as real-time shipment tracking 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,” Flipkart chief operating officer Binny Bansal said in a statement. “The integration of comprehensive and accurate location data will allow us to deliver an even more personalized and delightful experience to our customers.”

Earlier this week, Flipkart led a $9-million-round investment in QikPod, which aims to solve last-mile delivery issues by providing automated self-serve lockers that can be accessed by courier companies.

Flipkart was in talks to invest in MapmyIndia and two other supply chain technology firms to improve its logistics efficiency, Mint had reported on 24 November.

With Flipkart’s investment, MapmyIndia’s early financial investors Nexus Venture Partners and Lightbox Ventures will exit the company. MapmyIndia will continue to operate as an independent entity and work with other customers.

Also Read: Flipkart-backer Tiger Global is ready with $2.5b new fund to invest in internet businesses

India: Flipkart in talks to invest in Mapofindia, three others in a move to boost supply chain efficiency

India’s largest e-tailer Flipkart to invest $2.5b in building country-wide logistics network

This article was first published on Livemint.com

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.