Flipkart Ventures invests in five early-stage tech startups through its ‘Flipkart Leap Ahead’ program
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.
City Air News
Sep 25, 2023 08:36
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Bengaluru, September 25, 2023: 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 that will receive equity based funding are Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle. These five startups are building capabilities across a wide array of solutions, each catering to a unique problem statement. This includes Gen AI and ML powered solutions, digital escrow banking stack and circular economy.
These selected startups will receive mentorship for growth and innovation, with equity-based investments ranging from $250k to $500k. Additionally, they will be provided support in achieving product-market fit, laying the grounds for a scalable architecture, and building cohesive 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.”
Under Flipkart’s Leap Ahead program the selected startups undergo a curated program formulated to prepare them for accelerated scaling and expansion while also helping them leverage Flipkart’s collective expertise and connections.
