WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and work together to develop new technologies.
“We have made 15 acquisitions (in India) in the last four years… we are meeting a few innovative startups in India and even look forward to partnering/working with 2-3 or even more in the near future,” WalmartLabs Senior VP & CTO Jeremy King told PTI.
“Part of the reason, why I am out here is because we would love to make a deal or partnership or do some technology sharing with some of the startups this year,” he added.
King stated that in the past three years the startups were “copycat” of the models seen in the US or Europe but from last year, they have made a turn where a lot many apps and unique products can be seen.
WalmartLabs is also increasing its head count as the company is finding pool of young talents.
“We opened WalmartLabs in Bengaluru four years ago with 20 people..and we are 800 and it would be over 1,000 next year,” King said.
WalmartLabs has focused on companies which have worked on app developments and on digital platform for data science, content and categorisation.
“I am really interested in all those areas as supply chain, app tech based business or any sort of mobile tech,” he said.
King further said as the e-commerce market evolves in India, it would churn out good innovations here.
“I would not be surprised if we have lot more innovations coming directly from the Indian market,” he said.
Over WalmartLabs acquisition in India, he said:”We have bought couple of mobile companies, we did not take their technologies but we want to see that how it would apply to the shopping experience for the products”.
WalmartLabs is hiring talents from IITs and other top ranked colleges here, he added.
It has three technology offices at Bengaluru, Silicon Valley and Sao Paulo, Brazil and has around 4,000 people globally.