Flipkart, India’s largest e-commerce marketplace, acquired Upstream Commerce, an Israel-based provider of real-time pricing and product assortment optimization solutions.
The amount of the deal was not disclosed.
Led by Amos Peleg, CEO, Upstream Commerce builds cloud-based, automated competitive pricing and product analysis solutions, which will now strengthen Flipkart’s ability to deliver insights to its sellers to optimize their product assortment and pricing strategies and find gaps in the market to serve customers better.
Post the acquisition, the Upstream Commerce team, will continue to work out of Israel and become a part of Flipkart, becoming an overseas innovation center to support e-commerce in India.
The company was backed by YL Ventures as a leading investor from its inception to acquisition.