Flipkart makes yet another acquisition – buys 100% stake in Augmented Reality startup Scapic
- The three-year old Scapic is a cloud-based platform which offers creation and publishing of Augmented Reality (AR) and 3D content.
- Scapic’s team will join Flipkart and will help the e-commerce giant build deeper camera experiences, virtual storefronts and bring new opportunities for brand advertising on its platform.
- Flipkart’s acquisition of Scapic joins its long list of recent acquisitions and investments as the company scales up operations while competition rises from the likes of Amazon and JioMart.
AdvertisementIndian e-commerce giant Flipkart continues with its acquisition spree. The company has picked up a 100% stake in Augmented Reality company Scapic. The three-year old Scapic is a cloud-based platform that offers creation and publishing of Augmented Reality (AR) and 3D content. The company has clients across e-commerce and marketing.
The startup had also recently won in the Industry 4.0 – AR category, during the National Startup Awards 2020. Founded by Sai Krishna V K & Ajay P V, the Bengaluru-based company had earlier raised funding from Axilor, Speciale Invest, and Newfort Capital.
“Today, we buy more online than we ever have, and it has only accelerated this year. Customers now require better visuals than ever before. Scapic is building visual technology that brings products to life using Augmented Reality and 3D. Advancements by the Scapic team in the field of AI, Computer Vision and AR have made this change possible,” said the founders in a statement.
With the acquisition, Scapic’s team will join Flipkart and will help the e-commerce giant build deeper camera experiences, virtual storefronts and bring new opportunities for brand advertising on its platform.
“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. I welcome the Scapic team to Flipkart as we continue our efforts to provide deeper value to our customers,” said Flipkart CEO Kalyan Krishnamurthy in a statement.
Flipkart’s acquisition of Scapic joins its long list of recent acquisitions and investments as the company scales up operations while competition rises from the likes of Amazon and JioMart.
Flipkart is also doubling down on user experience on the platform. With its acquisition of social gaming startup Mech Mocha recently, the e-commerce platform was looking at ways to develop new and innovative formats to engage with users on its platform.
Flipkart is on an investment spree
|Acquisitions by Flipkart||Investment by Flipkart|
|Mech Mocha||Aditya Birla Fashion Retail Limited- ₹1,500 crore|
|Walmart’s B2B business||Arvind Fashions - ₹260 crore|
|USPL - undisclosed amount|
MakeMyTrip shares soar as COVID vaccine progress from Moderna and Pfizer spark optimism of faster travel recovery
Flipkart makes its third fashion investment in five months — bets on USPL that houses brands like Virat Kohli's Wrogn and Kriti Sanon's Ms Taken
Flipkart acquires gaming startup Mech Mocha as it looks to tap the social gaming space for more consumers
Popular on BI
- I'm a 56-year-old IT worker who got laid off last year and have been unemployed ever since. I have a hunch I'm not finding work due to ageism. How do I prove it?
- Germany relaxes Schengen visa rules for Indians
- Kanye West says he's selling Balenciaga, Adidas, and Gap hoodies for $20 after the companies all cut ties with him
- Earth is losing thousands of species each year, reveals research
- Nano-satellites built by startups augurs well for private sector's future endeavours: IN-SPACe
- Musk reveals Twitter 2.0, says top software aces joining company
- Risk management must be driven by understanding of what is good for corporate: Ex-chairman Sebi
- Government invites suggestions for union budget 2023-24