Walmart Labs, the technology arm of the US retail giant, has acqui-hired health tech start-up FloCare and B2B trading platform BigTrade for an undisclosed amount. Walmart has brought on-board the teams of the two Bengaluru-based companies to help strengthen its customer technology and supply chain.
“We are in an exciting phase of transformation and it feels great to add terrific minds from the startup ecosystem in India to our growing team,” said Hari Vasudev, centre head and vice president – technology, Walmart Labs India. “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,” Vasudev added.
FloCare which was co-founded by former Google research scientist Gagan Goel and former InMobi employee Gaurav Gupta was funded by Accel Partners. The health tech firm is building products and technologies to realise the vision of home health care. The other company, BigTrade, was founded by former Infosys engineer Kiran L and former Yahoo tech lead Sunil Soni.
Acqui-hiring has become a key strategy for Walmart Labs to hire the best talent and get access to new innovations. Last year in September, Walmart Labs, brought on-board the key team members from Bengaluru-based Appsfly, which had built a system for micro apps to get hosted and streamed on any platform. This was followed by hiring the key tech team from Int.ai, an artificial intelligence firm in December last year. This firm had developed expertise in blending machine learning with data analytics to uncover insights that significantly impact business metrics. In February this year, Walmart Labs acqui-hired machine learning firm Dataturks which was founded by former Flipkart employees Mohan Gupta and Gajendra Dadheech.
Walmart Labs said that its India team is engaged in creating cutting-edge engineering and product development solutions to support Walmart’s strategy of offering customers an anywhere and anytime shopping experience. Walmart Labs India is constantly creating deeper, more intuitive ways in which technology can redefine what customers expect from their shopping experiences, according to the company.