Funding Alert

Flipkart Ventures to back 6 early-stage startups

• ByStartupStory     |    August 19, 2022

As part of its accelerator programme, Flipkart Leap Ahead, Flipkart Ventures, a $100 million venture fund established by the world’s largest online retailer, is investing in six early-stage start-ups. These startups include a metaverse-focussed startup Dopplr, insurtech firm Livwell, logistics startup LogisticsNow, NeuroPixel.AI, robotic fulfillment startup Rightbot Technologies, and ecommerce seller-enablement venture Sellerapp.

The programme will offer direction on growth, scalability, and disruptive technologies in accordance with the Digital India vision with the goal of mentoring these early-stage start-ups.

The six start-ups will receive customised programmes created by Bain & Company in addition to equity investments worth up to $500,000, according to Flipkart Ventures. The six firms are each catering to a specific issue statement and the current needs of online buyers and sellers while they work to develop capabilities across a wide range of solutions. This includes a metaverse with virtual stores, robotic supply chain solutions, fashion cataloguing powered by AI, business optimization powered by data analytics, data-based freight intelligence, and more that can improve the experiences of buyers and sellers. Ravi Iyer, Senior Vice President and Head, Corporate Development said,

“Furthering our commitment to fostering India’s entrepreneur ecosystem, with Flipkart Leap Ahead we want to support startups to scale up their businesses and build relevant solutions to solve complex problems in the consumer internet and technology ecosystem. Through this endeavour, we strive to be a catalyst in the growing startup community by continuing to expand our program each year and presenting growth opportunities to emerging entrepreneurs. We are thrilled to invest in and mentor the six selected startups possessing unique ideas, disruptive business models and new innovative technologies,” said Ravi Iyer, Senior Vice President and Head, Corporate Development.

About Flipkart ventures

Founded in 2019 with its investment in G.O.A.T Brand Labs, Flipkart Ventures is backing next-generation innovations, and building and strengthening an ecosystem with world-class founders and ideas, Senior Vice President and Head, Corporate Development, Ravi Iyer,retraces Flipkart’s corporate development journey with a view of the road ahead.

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