Walmart Labs, the technology part of the global retail giant Walmart, has acquired two Bengaluru-based startups, FloCare and BigTrade.
While, the healthtech startup FloCare will be integrated into customer technology part of Walmart’s online pharmacy, BigTrade, which is a B2B wholesale trading platform, will contribute to the supply chain part of Walmart’s business.
Also, both the startups will be joining the Walmart’s team after completing all the formalities of the acquisition process.
“Walmart’s Online Pharmacy and Supply Chain business are renowned across the globe and I am sure the FloCare and BigTrade teams will strengthen our capabilities as we strive to build awesome omnichannel customer experiences around the globe, “Hari Vasudev, center head and technology vice president of Walmart Labs India said.
FloCare was cofounded by Gagan Goel and Gaurav Gupta in 2018. FloCare is a stealth-mode startup, aimed at building products and technologies to make home healthcare an affordable and scalable service.
Whereas, the NASSCOM-incubated wholesale trading platform, BigTrade was founded in 2017. The platform connects connects manufacturers, importers and wholesalers with the retailer for the bulk trading.
It enables traders or resellers from the small towns and remote places of the country procure their day to day inventory directly from the metro city manufacturers and importers.
The company assists traders in the entire trading cycle right from the discovery of the product to its delivery, which includes logistics and payment/credit services as well.
On the other hand, the India office of Walmart Labs was setup in Bengaluru in 2011 and is said to be responsible for 90 per cent of Walmart’s India operations.
It is aimed at supporting Walmart in providing a seamless customer experience – whether that’s online or in stores. Walmart Labs team include a diverse group of data scientists, product managers, architects, developers, and technologists.
Walmart claims to serve over 275 million customers a week across its 11.3K stores globally. The company claims to have recorded a revenue of $514.4 billion in FY18. Walmart services are said to be accessible through 58 banners in 27 countries and 10 e-commerce websites.