Scapic, an augmented reality (AR) firm, was acquired by the Flipkart group for an undisclosed amount. Scapic is a cloud-based platform that allows AR and 3D content to be produced and distributed, supporting clients across e-commerce and marketing.
Through the acquisition of Scapic, Flipkart will acquire a 100% stake in the company and a team of developers and designers. This team will work towards accelerating the company's efforts to provide a deeper camera experience, virtual storefronts, and new possibilities for brand ads on its platform. The CEO of Flipkart Group Kalyan Krishnamurthy said, “This year has accelerated online adoption - be it education, communication or shopping, as people prioritize health and safety. 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.”
The Scapic No-Code Platform helps create immersive experiences across categories such as fashion, furniture, and electronics. We are profoundly excited about the opportunity that is being raised to further broaden this and make millions of shoppers in India experience the potential of AR," said Sai Krishna V K and Ajay P V in a joint statement. Earlier this month, Flipkart acquired the intellectual property of gaming startup Mech Mocha for an undisclosed sum, as it aims to build newer formats to improve user interaction on its own GameZone website. It also had a minority stake in Aditya Birla Fashion and Arvind Youth Brands.
Flipkart to Buy an 8 Percent Stake for Rs. 1500 Crores in Aditya Birla Fashion and Retail
Business
Oct 24, 2020
Atharwa Gauraha
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Editor: Ekta Joshi
)
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Walmart Inc'sFlipkart will buy a 7.8 percent stake in Aditya Birla Fashion and Retail Ltd for ₹ 1,500 crores ($204 million), the fashion retail company said, on Friday (October 23, 2020).The investment comes at a time when Amazon.com Inc, Reliance Industries-led billionaire Mukesh Ambani, and Flipkart are in a race to capture market share in India's fast-growing food and grocery online market.With the COVID-19 pandemic keeping most people indoors, Indians are turning to online platforms for...
Haryana Government Allots 140 Acre Land to Flipkart for Fulfilment Centre
Executive
Oct 10, 2020
M V Manasa
(
Editor: Ekta Joshi
)
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On Wednesday (07 October 2020), an official statement said that the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has allotted 140-acre land to the Flipkart for setting up their largest fulfillment center in Asia. The statement issued by the Haryana government mentioned that the fulfillment Centre will have a covered area of 3 million square feet at Patli Hazipur, Manesar in the Gurgaon district.The fulfillment centers will be equipped with a highly automated...
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