E-commerce major Flipkart has diversified its ecosystem this year with acquisitions of online travel agent Cleartrip and e-pharmacy marketplace Sastasundar. The Walmart-controlled company is now close to making another acquisition.
Flipkart is in talks to acquire full-stack e-commerce enabler ANS Commerce, according to three people aware of the development.
“Flipkart is in late-stage talks to acquire ANS Commerce in a deal worth Rs 250-300 crore,” said one of the sources requesting anonymity.
ANS Commerce is a full-stack e-commerce enabler that helps brands sell online. It offers brand store tech, marketing, management, warehousing and fulfilment.
Founded by Amit Monga, Vibhor Sahare, Sushant Puri, and Nakul Singh, the Gurugram-based startup had recently picked up $2.2 million in its pre-Series A round led by Gokul Rajaram and Venture Catalysts.
According to sources, the deal is likely to be closed in the next few weeks.
ANS Commerce works with over 100 brands such as Jack & Jones, Vero Moda, HUL, Piramal, Lakme, Nivea, Oziva, CEAT and Bikanervala. According to the company, it will be scaling to 150-180 brands by the end of this financial year. Capitalizing on the direct to consumer (D2C) wave, the company plans to generate 30% from D2C brands.
“The acquisition will offer a new business line for Flipkart and enhance its exposure among emerging and existing D2C brands,” said the person quoted above.
“We don’t comment on rumors or speculation,” said ANS Commerce. Queries sent to Flipkart did not elicit an immediate response. We’ll update the post in case they do.
ANS Commerce was a part of Flipkart’s accelerator programme Flipkart Leap which was announced by the e-commerce giant in January this year. Entropik Tech, Fashinza, Gully Network, Piggy, Tagbox Solutions, Unbox Robotics, and Fasal also were selected in the programme.
If the deal gets through, ANS Commerce would be the third acquisition for Flipkart in the ongoing fiscal (FY22). Over the last two fiscals, Flipkart acquired five companies including Scapic, Mech Mocha, Walmart’s B2B business.
Besides acquisitions, it also made investments in Ninjacart, Shadowfax, Aditya Birla Fashion Retail Limited, Arvind Fashions and USPL. Flipkart and its US-based parent Walmart had recently led a $145 million round in Ninjacart.
Source : EN Trackr
