Flipkart takes stake in MapmyIndia

By: |
Bangalore | December 4, 2015 3:11 AM

Flipkart has taken a strategic minority stake in MapmyIndia for an undisclosed amount.

Flipkart has taken a strategic minority stake in MapmyIndia for an undisclosed amount, reports fe Bureau in Bengaluru. With this, MapmyIndia’s early investors Nexus Venture Partners and Lightbox Ventures will exit. Flipkart COO and co-founder Binny Bansal said, “With this, we are taking another step toward transforming the supply chain ecosystem in India, making technology and information the driver of our supply chain and logistics solutions.” The deal aims to deploy location intelligence capabilities across its logistics network, strengthening its first-mile pick-up and last mile delivery operations, Flipkart said.

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