07 May 2016 Current Affairs: The e-commerce giant Flipkart has partnered with a Bangaluru based social technology company 'MapUnity' to launch its map services. The network will cover the 126 cities including those chosen in the 'Smart Cities' mission. The company service will help Flipkart in handling logistics, supply chain and promotes public engagement in solving the key problems of metropolitan areas.
Flipkart confirms that the project will be driven by the MapUnity as well as by a Delhi based digital mapping company MapMyIndia. The acquisition of MapMy India has taken place in December, 2015. As per Flipkart, this will be a platform that cross-uses drives innovation, features, value.
In 2006, MapUnity also built the first Transport Information System for a major city in India-Bengaluru (www.btis.in) and has since developed platforms for urban management, heritage and history, environment, and safety.
Flipkart : Flipkart is an e-commerce company founded in 2007 by Sachin Bansal and Binny Bansal. The company is registered in Singapore, but has its headquarters in Bangalore, Karnataka, India.Flipkart has launched its own product range under the name "DigiFlip" with products including tablets, USBs, and laptop bags.In May 2014, Flipkart received $210 million from DST Global, in July 2014 it raised $1 billion led by existing investors Tiger Global and South Africa's media group Naspers and in May 2015 it raised $550 million from some of its existing investors. Flipkart's last fundraising round in May 2015 had pegged its valuation at $15 billion. In February 2016, Morgan Stanley, marked down its investment value to $11 billion.