Flipkart Acquires AR-Based Platform Scapic To Enhance Shopping Experience
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The Flipkart Group on Tuesday announced that it has acquired Scapic, an augmented reality (AR) startup, in a bid to enhance its shopping experience. With this deal, the Indian homegrown e-commerce platform will acquire 100 per cent stake at an undisclosed amount in Scapic.
Founded in 2017, Scapic provides a no-code platform to help brands and e-commerce sites enhance its shopping experience with the help of AR, virtual reality and 3D technology.
Flipkart—which locks horns with Jeff Bezos’ Amazon and is also seeing the rise of Reliance’s JioMart—is ramping up its technology during the ongoing pandemic to consolidate its market presence.
On the acquisition of Scapic, Kalyan Krishnamurthy, chief executive officer (CEO), Flipkart Group, said, “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 people prioritise health and safety. 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 VK and Ajay PV, Scapic claims to have deployed a no-code platform for several brands and commerce stores resulting in significant increases in conversions and rise in user engagement. Based in Bangalore, the startup also won an award in National Startups Awards 2020.
Commenting on the latest development, Sai Krishna and Ajay of Scapic in a joint statement, said, “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. Scapic’s no-code platform helps create immersive experiences across categories such as fashion, furniture and electronics. We are deeply excited about the opportunity that is being presented to scale this up further and make millions of shoppers in India experience the potential of augmented reality.”
As a part of the deal, Flipkart will onboard a team of experienced developers and engineers who will work towards accelerating the e-commerce’s efforts to provide deeper camera experiences, virtual storefronts and new opportunities for brand advertising on its platform.