Flipkart's Myntra acquires Bengaluru-based wearable startup Witworks

Myntra acquires consumer technology firm Witworks

Myntra acquires consumer technology firm Witworks

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. Post acquisition, Myntra will be absorbing the team to its Innovation Labs, further strengthening its technology team and product development capabilities.

Witworks Consumer Technologies was founded in 2014 by Somnath Meher, Ankit DP and Chandrashekhar Iyer, alumni of IIT-Kharagpur.

He said that wearables is now a ₹300-crore industry in India and is growing rapidly, with online contributing 60% to the total business.

The platform integrates a host of native and third-party services capable of innovative voice and visual interactions, designed specifically for wearable devices. It also has a range of audio and fitness wearable devices, under the same brand. "This acquisition will help us to solidify our position in this segment and enable us to develop and launch cutting edge wearable", said Jeyandran Venugopal, Chief Technology Officer at Myntra.

In 2016, Myntra bought its competitor Jabong for $70 million to help it compete with bigger rival Amazon. In 2013, it also acquired US -based firm Fitiquette which had created a virtual fitting room technology.