Flipkart’s venture investing arm, Flipkart Ventures, is investing in five early-stage startups as part of its accelerator program – Flipkart Leap Ahead (FLA). Now in its second year, the program aims to foster innovation and nurture entrepreneurship by providing entrepreneurs with the tools they need to succeed in their domain, and also positively impact the ecosystems in which they operate.
The startups Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle will receive equity-based funding. These five startups are each focusing on a different problem statement while developing capabilities across a broad range of solutions. This includes circular economy, digital escrow banking stack, and solutions powered by generation AI and ML.
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These chosen startups will get growth and innovation mentoring along with equity-based investments between $250k and $500k. They will also receive assistance with achieving product-market fit, setting up a scalable architecture, and forming strong teams.
Lubna Ahmed, Head of Flipkart Ventures, said, “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. 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.”
The selected startups in Flipkart’s Leap Ahead programme go through a curated programme designed to help them prepare for accelerated scaling and expansion while also enabling them to take advantage of Flipkart’s collective knowledge and connections.
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About Flipkart Ventures
Flipkart Ventures is an early-stage investment arm of Flipkart Group with a $100 million fund to back early-stage startups in India and thereby support the ecosystem to build innovative solutions for the next wave of internet users. Its portfolio now includes 15+ companies such as BeatO, Finbox, Goat brand labs, Hyperface, Livwell, Neuropixel, Rightbot and others.
About the Flipkart Group
The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip. Started in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India’s digital commerce revolution.
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