Flipkart co-founder Sachin Bansal and Ankit Agarwal’s Navi Technologies has acqui-hired Bengaluru-based technology consulting form MaveHive, reported Inc42.
Post-acquisition, MavenHive team along with its founders will be joining Navi.
Talking about the acquisition, Sachin Bansal said, “We are very excited about this acquisition, which will add great capability to our ambitions to build cutting edge technology platforms that can take applications to scale. This acquisition will add to Navi’s technology capabilities.”
Founded by Bhavin Javia and Anandha Krishnan in 2012, MavenHive helps companies to develop their ideas into fully functioning products. The startup has a vast clientele including companies like Flipkart, Grasshopper, Scripbox, Gojek, among many others.
Navi Technologies, formerly known as BAC Acqusitions, was founded by Sachin Bansal and Ankit Agarwal in December 2018. Navi was founded with the goal of building consumer-centric and technology businesses in the BFSI space.
According to CrunchBase, earlier this year in November, Navi Technologies raised around ₹890 crores from Sachin Bansal. Also in January 2019, Sachin Bansal had also invested $7 million into the company in its seed funding round.
So far, Navi Technologies has invested in four startups this year including self-drive bike rental startup Bounce, consumer electronics brand boAt, fintech startup Kissht and e-commerce web app KrazyBee.