The Flipkart Group has announced the acquisition of augmented reality startup Scapic to enhance its shopping experience capabilities. The Walmart-owned company will acquire a 100% stake in Scapic and onboard its team.
Scapic’s team will work towards accelerating Flipkart’s efforts to provide deeper camera experiences, virtual storefronts and new opportunities for brand advertising on its platform, said Flipkart in a press release.
Speaking on the deal, Kalyan Krishnamurthy, CEO, Flipkart Group, 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. I welcome the Scapic team to Flipkart as we continue our efforts to provide deeper value to our customers.”
Founded by Sai Krishna V K and Ajay P V, Scapic is a cloud-based platform which enables creation and publishing of Augmented Reality and 3D content, currently serving clients across e-commerce and marketing. 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.
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.