India-based e-commerce platform Flipkart is in talks to invest in four companies, including India-based map data provider MapmyIndia, LiveMint reported on Tuesday, citing three people familiar with the matter.
MapmyIndia was founded in 1992 and has since built up a substantial base of Indian geo-data, picking up funding from Qualcomm Ventures, wireless technology provider Qulcomm’s corporate venturing unit, map publisher Zenrin, Nexus Venture Partners and Lightbox Ventures along the way.
The MapmyIndia investment would be, to some extent strategic, as Flipkart can leverage the company’s data to help it deliver goods to a wider range of areas.
Sources have also told LiveMint that FlipKart is seeking a new head of corporate development to replace Nishant Verman, who is now acting as chief of staff for Mukesh Bansal, the head of Flipkart’s commerce platform.