Walmart-owned Flipkart enters into business partnership with Delhi-based start-up Ensologic
As part of this deal, the two entities will identify innovative products through their research teams and further develop them for their customers
- Apr 11, 2023,
- Updated Apr 11, 2023 8:16 PM IST
Walmart-owned Flipkart entered into a business deal with supply chain solutions provider Ensologic. The expected business volume for this partnership is estimated to be about Rs 1,000 crore in FY24. As part of this deal, the two entities will identify innovative products through their research teams and further develop them for their customers.
Apart from India, Ensologic has a presence in other Asian countries such as Japan, Korea, Indonesia, Thailand, Vietnam, Taiwan, and China.
Anil Agarwal, CEO of Ensologic, said that they are focused on activities that enhance and evolve supply chains using technology. “It's time to transform it (supply chains) with technology at a micro level, where goods, information, and transactions can happen in real-time."
The Delhi-based start-up was founded in 2019. Last year in March, the company raised $500k in a funding round that saw the participation of India Angel Network and Hyderabad Angels.
The partnership between Ensologic and the ecommerce giant is aimed at giving a push to the Indian supply chain industry, which was disrupted significantly during the Covid pandemic.
Flipkart has been taking various initiatives to strengthen its supply chain ecosystem.
On Tuesday, the company also announced that it has set up eight supply chain facilities and 200 delivery hubs in Tamil Nadu. The aim of this initiative, the company said, is creating inclusive job opportunities for all besides boosting economic growth.
The company has onboarded 15,000 Kirana partners under its ‘Kirana Delivery' program, which enables faster customer shipments and also created an alternative source of income for their partner Kirana or small grocery stores in the state.
"Flipkart has eight supply chain facilities including fulfillment and sortation centers across Tamil Nadu, including Chennai, Coimbatore and Hosur, which help in connecting sellers to the pan-India consumer base while delivering growth opportunities for the state," the company said in a statement.
(With added inputs from the PTI)
Also Read: SoftBank, Tiger Global drop out of top 20 of the world’s most active VCs
Walmart-owned Flipkart entered into a business deal with supply chain solutions provider Ensologic. The expected business volume for this partnership is estimated to be about Rs 1,000 crore in FY24. As part of this deal, the two entities will identify innovative products through their research teams and further develop them for their customers.
Apart from India, Ensologic has a presence in other Asian countries such as Japan, Korea, Indonesia, Thailand, Vietnam, Taiwan, and China.
Anil Agarwal, CEO of Ensologic, said that they are focused on activities that enhance and evolve supply chains using technology. “It's time to transform it (supply chains) with technology at a micro level, where goods, information, and transactions can happen in real-time."
The Delhi-based start-up was founded in 2019. Last year in March, the company raised $500k in a funding round that saw the participation of India Angel Network and Hyderabad Angels.
The partnership between Ensologic and the ecommerce giant is aimed at giving a push to the Indian supply chain industry, which was disrupted significantly during the Covid pandemic.
Flipkart has been taking various initiatives to strengthen its supply chain ecosystem.
On Tuesday, the company also announced that it has set up eight supply chain facilities and 200 delivery hubs in Tamil Nadu. The aim of this initiative, the company said, is creating inclusive job opportunities for all besides boosting economic growth.
The company has onboarded 15,000 Kirana partners under its ‘Kirana Delivery' program, which enables faster customer shipments and also created an alternative source of income for their partner Kirana or small grocery stores in the state.
"Flipkart has eight supply chain facilities including fulfillment and sortation centers across Tamil Nadu, including Chennai, Coimbatore and Hosur, which help in connecting sellers to the pan-India consumer base while delivering growth opportunities for the state," the company said in a statement.
(With added inputs from the PTI)
Also Read: SoftBank, Tiger Global drop out of top 20 of the world’s most active VCs