Flipkart Group the Walmart-owned e-Commerce giant has acquired Augmented Reality (AR) startup Scapic in a bid to enhance its immersive shopping experience capabilities for customers.
Bangalore-based Scapic is a cloud-based platform which enables creation and publishing of Augmented Reality (AR) and 3D content, currently serving clients across e-Commerce and marketing. Flipkart which competes with Amazon and Reliance’s JioMart did not reveal financial details of the transaction. But the information has been disclosed that Flipkart will acquire 100 percent stake in the company and absorb the startup’s team as the organization plans to accelerate its efforts to provide deeper camera experiences, virtual storefronts and new opportunities for brand advertising on its platform.
The acquisition of the three year old startup, is also expected to bolster shopping experiences for Flipkart-owned Myntra, which it acquired in 2014, as well as its social commerce platform, 2GUD, which looks to leverage AR capabilities
After witnessing a huge change in the consumer behavior due to the pandemic and lockdown, Flipkart has been focusing on enhancing consumer experiences through several investments. This includes strengthening technology capabilities. It is providing local language interfaces on its platform for consumers across the country. The company has also recognized the Indian consumers’ preference for experiences that replicate the tangible shopping process. “At the Flipkart Group we are focused on providing Indian consumers experiences that make shopping online a seamless and more enjoyable experience. This year has accelerated online adoption, be it education, communication or shopping. 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,” stated Kalyan Krishnamurthy, Chief Executive, Flipkart Group. The acquisition of the three year old startup, is also expected to bolster shopping experiences for Flipkart-owned Myntra, which it acquired in 2014, as well as its social commerce platform, 2GUD, which looks to leverage AR capabilities.
Scapic was founded in 2017 by Sai Krishna V K and Ajay P V. It is a no-code platform for brands and e-commerce entities to build AR, VR (virtual reality) and 3D shopping experiences. Talking about the recent trends in the e-Commerce industry V K Sai Krishna and Ajay P V stated that more consumers are buying more online and it has only accelerated this year. They said customers now require better visuals than ever before. Scapic is building visual technology that brings products to life using AR and 3D. Advancements by the Scapic team in the field of artificial intelligence, computer vision and AR have made this change possible. “Scapic’s no-code platform helps create immersive experiences across categories such as fashion, furniture & electronics,” said V.K. Sai Krishna and Ajay P.V., Co-Founders, Scapic, in a statement.
This is the second major technology company acquisition for Flipkart this year. Earlier this month Flipkart strengthened its gaming strategy through the acquisition of intellectual property (IP) from Mech Mocha, a mobile gaming start-up that runs India’s first live-social gaming platform Hello Play.