Flipkart invests in five early-stage tech start-ups
These start-ups will receive mentorship for growth and innovation, with equity-based investments ranging from $250,000 to $500,000.
Published: 26th September 2023 09:15 AM | Last Updated: 26th September 2023 09:15 AM | A+A A-
Flipkart (File Photo | AP)
BENGALURU: Flipkart’s venture investing arm, Flipkart Ventures, will invest in five early-stage start-ups as part of its accelerator programme, Flipkart Leap Ahead (FLA). Five start-ups -- Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle -- have been selected for their potential to revolutionise technology across sectors including deep tech, fintech, health tech, gen-AI, and sustainability, and they will receive equity-based funding.
These start-ups will receive mentorship for growth and innovation, with equity-based investments ranging from $250,000 to $500,000. They will be provided support in achieving product-market fit, laying grounds for a scalable architecture, and building teams, Flipkart Ventures said. Flipkart Ventures with a $100 million fund to back start-ups, has a portfolio of over 15 firms such as BeatO, Finbox, Goat brand labs, Hyperface, Livwell, Neuropixel, Rightbot and others. Lubna Ahmed, head of Flipkart Ventures, said, “Many start-ups 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.”
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