1. Flipkart arm Ekart Logistics to deploy whopping Rs 3000 cr war chest for acquisitions, more

Flipkart arm Ekart Logistics to deploy whopping Rs 3000 cr war chest for acquisitions, more

Ekart Logistics, the logistic arm of Flipkart, has allocated Rs 3,000 crore for investments and acquisitions, recent filings with the Registrar of Companies show.

By: | New Delhi | Published: October 10, 2017 6:01 AM
Flipkart, Ekart Logistics Ekart was acquired by Flipkart from WS Retail, a primary seller on its marketplace.

Ekart Logistics, the logistic arm of Flipkart, has allocated Rs 3,000 crore for investments and acquisitions, recent filings with the Registrar of Companies show. The development comes just days after Singapore-based group firm Klick2Shop Logistics Services International infused `641 crore into Ekart, which is being run by Instakart Services.

Ekart Logistics earlier this year suspended the customer-to-customer courier service within months of its launch. It also halted its hyper-local delivery services that was piloted in Bengaluru last year.
Ekart was acquired by Flipkart from WS Retail, a primary seller on its marketplace, and is being run by a group entity, Instakart Services, since 2015. Besides offering core e-commerce services such as third-party logistics services to other e-commerce players , it also provides warehousing and fulfillment facilities to retail sellers.

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