E-Commerce giant, Flipkart is gearing up its technology base in Israel post the acquisition of Upstream Commerce, an analytics startup.
The company has deployed a management team and is also focussing on an R&D centre on cybersecurity, data protection and is also eyeing strategic acquisitions in the country.
“While the size of the team itself is small, Israel is a market Flipkart wants to actively pursue AI, computer vision and security tech,” said a person aware of the development. The rising interest of Flipkart’s in tapping the Israel market aligns with that of global tech giants like Google, Facebook, Salesforce and Apple, which set up their offices in the country.
Walmart, Flipkart’s parent company has also been actively involved in potential investments in the country with reports coming in that Walmart’s CEO, Doug McMillon met Israeli government officials.
Walmart last month acquired Aspectiva, a Tel Aviv-based startup which leverages artificial intelligence to process data from consumer likings into targeted personalised recommendations. The retail major also boasts of investment in Team8, a Cybersecurity startup in Israel.
“Our team in Israel is highly talented and we are also looking forward to making Israel one of our excellence centres to do cutting-edge data science work,” said a spokesperson from Flipkart.