Bengaluru - August 18, 2022: Flipkart Ventures, the $100M venture fund set up by Flipkart, today announced that it will be investing in six startups as part of its accelerator program - Flipkart Leap Ahead. The program aims to provide early-stage startups with mentorship and guidance to grow, scale, and build disruptive innovations that solve for Digital India.
The selected startups will receive an equity investment up to $500k from Flipkart and will undergo a well-curated mentorship program delivered through a customized curriculum, which has been designed by Bain & Company. This includes regular mentor connect sessions with experienced Flipkart leaders across various functions including business, product, technology, and finance. At the end of the program, the startups will present their ideas to potential investors and industry leaders on a Demo Day.
The six startups are building capabilities across a wide array of solutions, including a metaverse with virtual stores, robotic supply chain solutions, AI-powered fashion cataloging, data analytics-powered business optimisation, data-based freight intelligence, and more that can help elevate customer and seller experiences.
The Flipkart Leap Ahead program graduated its first cohort in July 2021 with eight startups that successfully pitched their ideas to investors 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.".
The 6 Selected Startups
Dopplr - Metaverse : Looks to provide immersive virtual stores as a service for brands, aided by AI-driven garment display & personalization. Customers can virtually try on apparel on their avatars and also experience social shopping.
Livwell - Insurtech : A blockchain-based Insurtech & health engagement application that provides affordable bite-size Insurance products aimed toward millennials. It uses dynamic health data from its application to provide rewards and reduced premiums for Insurance purchases.
Logistics Now (LoRRI) - Logistics Solutions : Its flagship digital logistics platform (LoRRI) is revolutionizing the B2B transport value chain, powered by a vision to build a National Logistics Grid. LoRRI's deep data-based freight intelligence and procurement solutions save on costs and time, while enabling sustainability.
NeuroPixel.AI - Automated Catalogs : A DeepTech startup at the intersection of Fashion E-Commerce and Computer Vision. They generate lifelike synthetic human models and automate the process of cataloging apparel.
Rightbot Technologies - Robotic Fulfillment : A full-stack robotics automation platform catering to online fulfillment. Currently focused on the quick commerce segment, their proprietary technology enables efficient order fulfillment, leading to higher productivity, lower costs and improved employee wellbeing.
Sellerapp - Seller Enablement : A seller-centric intelligence platform that empowers sellers to manage, optimize and scale their business. Their key focus is to strengthen the seller ecosystem with actionable data and insights.
About the Flipkart Group
The Flipkart Group is one of India's leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Health+, Flipkart Wholesale, and Cleartrip. Started in 2007, Flipkart has a registered customer base of more than 400 million, offering over 150 million products across 80+ categories. Flipkart is committed to transforming commerce in India through technology.
For more information, please write to media@flipkart.com.
