Flipkart Group acquires Augmented Reality startup Scapic

By : |November 18, 2020 0

The Flipkart Group has announced the acquisition of AR startup Scapic to enhance its shopping experience capabilities. The company will acquire a 100% stake in Scapic and onboard its team. Kalyan Krishnamurthy, the CEO, Flipkart Group welcomed Scapic team. He said, “..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.”

Scapic’s team will work towards accelerating Flipkart’s efforts to provide deeper camera experiences, virtual storefronts. Thus, it will give new opportunities for brand advertising on its platform, said Flipkart in a press release.

 

About Scapic

Sai Krishna V K and Ajay P V founded the AR Startup in 2017. The no-code platform builds AR, VR and 3D shopping experiences for brands and e-commerce entities. Its SaaS platform turns e-commerce visuals into immersive product experiences. In addition to providing local language interfaces on its platform for consumers across the country, the company also helps create shopping experiences across categories such as fashion, furniture and electronics.

The three-year-old startup had raised $500,000 in its seed round of funding from Axilor, Speciale Invest, and Newfort Capital in January 2018.

Major acquisitions from Flipkart in the previous months

This is the second acquisition by Flipkart in November. Earlier this month, Flipkart acquired the intellectual property of gaming startup Mech Mocha for an undisclosed amount. In 2019, the firm had also acquired a 20% stake in loyalty and reward platform EasyRewardz; and speech recognition platform Live.ai.

In recent months, it has also invested in offline retailers. Majorly, it picked up minority stakes in Arvind Youth Brands for ₹260 crores, and a 7.8% stake in Aditya Birla Fashion and Retail Ltd for ₹1,500 crores.

Earlier this month, it participated in a Series F round of Universal Sportsbiz Pvt. Ltd, which owns youth fashion brands Ms Taken, Wrogn and Single.

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