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. Through the acquisition of Scapic, the Flipkart Group will acquire a 100 per cent stake in the Bengaluru-based company. It would onboard a talented team of experienced developers and designers. This team will work towards accelerating the company’s efforts to provide deeper camera experiences, virtual storefronts and new opportunities for brand advertising on its platform.
Scapic co-founders V K Sai Krishna and Ajay P V, said 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 and electronics,” said the Scapic co-founders. “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 AR.”
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.
According to consulting firm RedSeer, there is a rise in new shopping models owing to changing customer demographics, including video-based and WhatsApp-based shopping. As Flipkart expands its e-commerce operations across the country, it has been making a slew of acquisitions in the past few years. These include firms such as digital payments firm PhonePe, online fashion retailer Myntra, and the Indian arm of e-commerce firm eBay.
It has also been making strategic investments in many tech and retail companies.
Last month, it invested Rs 1,500 crore in Aditya Birla Fashion and Retail for a strategic partnership. It also made a fresh round of investment in Ninjacart that connects farmers with kiranas and businesses using technology.
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