File image | Photo Credit: Dado Ruvic
Flipkart Ventures, the $100-million venture fund of ecommerce major Flipkart, will invest upto $500,000 each in six startups as part of its accelerator programme ‘Flipkart Leap Ahead’.
The startups are building solutions to improve customer experience, including a metaverse with virtual stores, robotic supply chain solutions, AI-powered fashion cataloguing, data analytics-powered business optimisation, and data-based freight intelligence.
The selected startups are Dopplr (metaverse), Livwell (insurtech), LogisticsNow or LoRRI (logistics solutions), NeuroPixel.AI (automated catalogues), Rightbot Technologies (robotic fulfilment), and Sellerapp (seller enablement). The startups will undergo mentorship through a customised curriculum designed by Bain & Company.
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The mentorship programme includes interaction with Flipkart leaders across the functions of business, product, technology, and finance. At the end of the 16-week mentorship, the startups will present their ideas, fine-tuned during the training, to potential investors and industry leaders. Earlier, in July 2021, the Flipkart Leap Ahead programme had mentored eight startups, which pitched ideas and raised further funding.
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 consumer internet and technology ecosystem. Through this endeavour, we strive to be a catalyst in the growing startup community by continuing to expand our programme 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.”
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Flipkart Ventures to fund six startups – BusinessLine