Flipkart’s investment arm, Flipkart Ventures, is set to fund five early-stage startups through the Flipkart Leap Ahead (FLA) Program, aiming to boost Gen AI and ML-powered solutions, digital escrow banking stack, and circular economy initiatives.
Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle are the chosen startups, receiving equity-based investments ranging from US $ 250,000 to US $ 500,000. The goal is to nurture innovation and entrepreneurship, providing mentorship to these budding companies for product-market fit and fostering scalable architecture and cohesive teams.
Lubna Ahmed, Head of Flipkart Ventures, highlighted the successful outcomes of startups funded in 2022, which have been successful in securing investor funding, forming new business relationships, and implementing pilot projects in the ecosystem.
The selected startups will undergo a curated program within Flipkart’s initiative, designed to prepare them for rapid scaling and expansion, leveraging Flipkart’s expertise and network. Currently, Flipkart Ventures has a US $ 100 million fund dedicated to supporting early-stage startups in India, with a portfolio comprising 15 companies such as BeatO, Finbox, Goat Brand Labs, Hyperface, Livwell, Neuropixel, Rightbot, and more.
