Flipkart-owned online fashion website Myntra has made its fourth acquisition. It has acquired Bangalore-based logistics startup InLogg for an undisclosed amount. As part of the deal, the core management team – which includes Preeti Jain (CEO), Rajat Khanduja (CTO) Prateek Gautam, Head of Product & Operations and Hemant Agrawal, Head of Business Development – will be absorbed into Myntra.
InLogg was started in 2015 and has expertise in fulfillment, technology, and business and is looking to standardize logistics in remote areas. Myntra added that InLogg is stitching a composite supply chain of regional courier companies across states in India. The company has a technology solution that provides a software-as-a-service (SaaS) which will help in shipment lifecycle management, mobile apps for pickup, delivery, returns, cash on delivery, reconciliation, reporting and analytics.
On paper, the acquisition makes sense for the Flipkart Group. Note that earlier this year, Flipkart suspended its consumer-facing courier service, Ekart Courier. At the time, Flipkart said that it was consolidating service offerings from Ekart to “sharpen its focus on its core business model.” Ekart is now concentrating on its commerce service. Ekart continues to offer warehousing solutions and end-to-end logistics and supply chain capabilities for its other clients.
In such a scenario, it would be great it InLogg could provide a standardized experience across all logistics players.
– In July 2016, Myntra bought content aggregation startup Cubeit for an undisclosed amount.It used to build mobile applications which allowed users to aggregate content from anywhere, organize, view and share the same from a given location.
– It previously bought mobile application development platform Native5 in 2015 which offered a cloud-based platform for development and distribution of mobile apps across smartphones, tablets, and desktops.
– Myntra acquired San Francisco-based virtual fitting room startup Fitiquette for an undisclosed amount, in April 2013. At the time, Myntra had plans to integrate Fitiquette’s core product within its website.
Flipkart group funding
Earlier this month, the Flipkart Group raised $1.4 billion from Chinese investment holdings firm Tencent, global e-commerce player eBay and technology company Microsoft. With the investment, eBay is selling its India unit to Flipkart in exchange for equity in the Flipkart Group. eBay.in will continue to operate as an independent entity.