Flipkart Ventures to back five early-stage tech startups through Leap Ahead accelerator programme

The programme aims to foster innovation and nurture entrepreneurship by providing entrepreneurs with the tools they need to succeed in their domain and impact the ecosystem in which they operate.

Tuesday September 26, 2023 , 2 min Read

Flipkart Ventures, the venture investing arm of e-commerce marketplace Flipkart, is investing in five early-stage startups as part of its Flipkart Leap Ahead accelerator programme.

The accelerator programme aims to foster innovation and nurture entrepreneurship by providing entrepreneurs with the tools they need to succeed in their domain and impact the ecosystem in which they operate.

Algomage, Castler, FlexifyMe, NimbleBox, and ReCircle are the startups that will receive equity-based funding this year. These five startups are building capabilities across a wide array of solutions, each catering to a unique problem statement, Flipkart Ventures stated in a release. They include solutions powered by generative AI and machine learning, digital escrow banking stack, and circular economy.

The five startups will receive mentorship for growth and innovation, with equity-based investments ranging from $250k to $500k. They will also be provided support in achieving product-market fit, laying the grounds for a scalable architecture and building cohesive teams, said the release.

Last year, the investment arm of Flipkart Group had invested in six early-stage startups—metaverse-focussed startup Dopplr, insurtech firm Livwell, logistics startup LogisticsNow, deeptech startup NeuroPixel.AI, robotic fulfillment startup Rightbot Technologies, and ecommerce seller-enablement venture Sellerapp.

"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 programme 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,” said Lubna Ahmed, Head of Flipkart Ventures.

Flipkart Ventures has a $100-million fund to back early-stage startups in India. Its portfolio comprises over 15 companies including BeatO, FinBox, G.O.A.T Brand Labs, Hyperface, Livwell, NeuroPixel.AI, and Rightbot Technologies.