Flipkart acquires minority stake in MapmyIndia

E-commerce marketplace, Flipkart has acquired a strategic minority stake in MapmyIndia an online digital map platform for GPS navigation, tracking, location-based apps and GIS solutions. With this investment, MapmyIndia’s early financial investors, Nexus Venture Partners and Lightbox Ventures, will exit the company. MapmyIndia will continue to function independently and serve its consumers and enterprises customers across all industries.