The e-commerce firm Flipkart Ventures has invested funds in six start-ups whose innovations provide virtual stores, robotics automation and try-on apparel. Flipkart Leap Ahead, after selecting all processes, will be involved in multiple rounds of evaluation. The equity investment will receive up to $500,000.
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“We want to support start-ups to scale up their businesses and build relevant solutions to solve complex problems in the consumer internet and technology ecosystem,” said Ravi Iyer, senior vice president and head of corporate development at Flipkart. “We strive to be a catalyst in the growing start-up community by continuing to expand our program each year and presenting growth opportunities to emerging entrepreneurs.”
All these six start-ups will undergo a 16-weeks which is designed by Bain & Company. All business, product, technology and finance information is given in training with experienced Flipkart leaders. The start-ups will represent all ideas to investors and industry leaders on a Demo Day.
Flipkart Ventures also backs NeuroPixel.AI, a start-up that generates lifelike synthetic human models with the ability to personalise basis size, gender and age and automate the process of cataloguing apparel. Rightbot Technologies is a full-stack robotics automation platform catering to online fulfilment. The sixth company is SellerApp, a seller-centric intelligence platform that empowers sellers to manage, optimise and scale their business.