Walmart India unit Flipkart setting up R&D center in Israel – report
Flipkart, the Indian e-commerce giant that bought Israeli analytics startup Upstream Commerce last year, is also scouting for more Israeli tech, ETtech website says
- Flipkart, which is India's biggest e-commerce outfit and is owned by US retail firm Walmart, is strengthening its technology base in Israel after acquiring the analytics startup Upstream Commerce last year, the financial website ETtech said Tuesday, citing two people familiar with the matter.
- The Indian firm is putting in place a local management team and setting up a research and development center that will focus on cybersecurity technologies, cloud computing and data protection, and will also be on the lookout for acquisitions in Israel, the report said.
- Walmart has also been looking actively at the Israeli market for potential investments, the website said.
- In February, Walmart announced its acquisition of Israel-based Aspectiva, a startup that uses artificial intelligence and natural language processing technologies to analyze consumer opinions from the web with the goal of creating a better shopping experience.