Funding Alert

Flipkart Ventures to Invest in Five Early-Stage Startups Through FLA Accelerator Program

• ByStartupStory     |    September 26, 2023

Flipkart Ventures, the venture investing arm of Flipkart, is set to invest in five promising early-stage startups as part of its Flipkart Leap Ahead (FLA) accelerator program. In its second year of supporting startups, Flipkart Ventures has identified Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle for their potential to drive technological innovations across diverse sectors, including deep tech, fintech, health tech, generative AI, and sustainability. These startups comprise the third cohort of the Flipkart Leap Ahead program.

The primary objective of the FLA program is to foster innovation and provide support to budding entrepreneurs in their ventures. It equips entrepreneurs with the necessary tools to excel in their respective domains and make a positive impact on their operating ecosystems.

As part of the program, these startups will receive mentorship aimed at fueling their growth and fostering innovation. Flipkart Ventures plans to offer equity investments ranging from $250,000 to $500,000 to these startups. Additionally, they will benefit from assistance in identifying suitable customers for their products and building robust teams.

Lubna Ahmed, Head of Flipkart Ventures, expressed, “Flipkart has always been at the forefront of empowering the startup ecosystem in India. We are excited to witness the transformative journey of startups in India as they harness Flipkart’s resources and guidance to bring their innovative ideas to life.”

Last year, Flipkart Ventures invested in six early-stage startups under the FLA program, including Dopplr, Livwell, LogisticsNow (LoRRI), NeuroPixel.AI, Rightbot Technologies, and Sellerapp.

Ahmed further noted, “We are pleased that many startups from last year’s cohort have been able to secure successful investor funding, cultivate new business relationships, and implement pilot projects to support the ecosystem. This program is a testament to Flipkart’s commitment to supporting India’s vibrant startup ecosystem that is playing a pivotal role in the country’s digital journey.”

Launched in 2019 with a $100 million fund to support early-stage startups in India, Flipkart Ventures has already invested in companies such as FinBox, Goat Brand Labs, and Hyperface.

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