To boost its shopping experience capabilities, the Flipkart Group has announced the acquisition of augmented reality startup Scapic. The business owned by Walmart will buy a 100 percent interest in Scapic and be part of its management.
Scapic’s team will work to speed up Flipkart’s efforts to provide its platform with deeper camera interactions, virtual storefronts, and new brand advertisement opportunities, Flipkart said in a press release.
Kalyan Krishnamurthy, the CEO, Flipkart Group, said As we make investments based on improving and nurturing the retail ecosystem, we are also committed to making our platform in terms of content and experience easier to access and richer for customers.” I welcome Flipkart’s Scapic team as we continue our efforts to provide our clients with deeper value.
Established by Sai Krishna V K and Ajay P V, Scapic is a cloud-based platform that allows Virtual Reality and 3D content to be produced and published and currently serves e-commerce and marketing customers. The company also helps build shopping experiences across categories such as apparel, furniture, and electronics, in addition to offering local language interfaces on its website for customers across the world.
Scapic is developing digital technology that uses Virtual Reality and 3D to bring items to life. Advances in the area of AI, Computer Vision, and AR by the Scapic team have made this transition possible. The no-code platform of Scapic contributes to creating immersive experiences through categories such as fashion, furniture, and electronics, said co-founders of Scapic
The company was part of the Y Combinator Startup School, was also one of the winners of the Wharton India Economic Forum’s Karnataka Elevate 100 program, and was identified as one of the top 120 startups. In 2018, it had earlier received seed funding of $500K from Axilor, Speciale Invest, and Newfort Capital.
In January 2018, the three-year-old start-up raised $500,000 from Axilor, Speciale Invest, and Newfort Capital in its seed round of funding.
This is the second acquisition in November by Flipkart. Flipkart bought the intellectual property of gaming start-up Mech Mocha for an undisclosed sum earlier this month. The organization also purchased a 20 percent stake in the EasyRewardz loyalty and reward program and the Live.ai speech recognition platform in 2019.