Flipkart's Myntra acquires Bengaluru-based wearable startup Witworks

Myntra's Innovation Labs is already working on products such as smart shoes that help a wearer track several parameters

An employee works inside the office of Myntra in Bengaluru. Photo: Reuters

Flipkart-owned online fashion portal Myntra has acquired Bengaluru-based wearable device startup Witworks as it looks to tap the fast-growing market for wearables and smart clothing through its own in-house brands. Myntra did not disclose the valuation at which it acquired the startup or any other details of the deal. The team from Witworks, which is made up of just around 15 people, will be absorbed by Myntra’s Innovation Labs arm. “Wearables is currently a Rs 3 billion industry in India and is growing rapidly, with online contributing 60 per cent to the total ...