Flipkart Ventures Backs 5 Early Stage Startups Under Its Accelerator Programme

SUMMARY

The five startups chosen to receive equity-based funding through this initiative are Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle

As part of the programme, Flipkart Ventures will make equity-based investments in the range of $250,000 to $500,000 in these companies

Furthermore, the startups will receive support in achieving product-market fit, establishing a scalable architecture, and building cohesive teams

Flipkart Ventures, the venture investing arm of ecommerce giant Flipkart, has invested in five early stage startups as part of its accelerator programme called Flipkart Leap Ahead (FLA).

Now in its second year, FLA is designed to foster innovation and support entrepreneurship, providing aspiring entrepreneurs with the necessary resources to thrive in their respective fields.

The five startups chosen to receive equity-based funding through this initiative are Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle.

In a statement, Flipkart said each of these startups is actively developing solutions that address distinct problem statements, spanning areas such as generative AI and machine learning-powered solutions, digital escrow banking infrastructure, and circular economy solutions.

As part of the programme, Flipkart Ventures will make equity-based investments in the range of $250,000 to $500,000 in these companies. Furthermore, the startups will receive support in achieving product-market fit, establishing a scalable architecture, and building cohesive teams, Flipkart 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,” Lubna Ahmed, head of Flipkart Ventures, said.

Launched in 2019, Flipkart Ventures is a $100 Mn fund to back early-stage startups in India and thereby help support the ecosystem to build innovative solutions for the next wave of internet users. It has invested in FinBox, GOAT Brand Labs and Hyperface so far. Flipkart Ventures also invested in six early stage start-ups under FLA last year.

Meet The 5 Selected Startups

Algomage

Founded by Anand Rathi in 2021, Algomage automates end-to-end image post production using machine learning. It helps photographers cut down processing time and helps sponsors at live events achieve greater visibility via branded image delivery.

Castler

Founded by Vineet Singh and Dinesh Kumar in 2020, Castler digitises escrow banking to offer a user-friendly, efficient, and secure experience for managing payments and settlement.

FlexifyMe

Founded by Manjeet Singh and Amit Bhayani in 2021, Flexifyme is an AI enabled physiotherapy platform to address long-term care for musculoskeletal disorders. The platform uses a mix of traditional healing and AI-led dynamic posture analysis to customise plans and track continuous progress.

NimbleBox.ai

Founded by Anshuman Pandey, Naman Maheshwari and Rohan Kumar, ChatNBX (chat.nbox.ai) by NimbleBox.ai is a managed service to build generative AI applications. The platform integrates with enterprises’ cloud accounts as well as on-prem, hosting commercially usable models for tailored use-cases across industries.

ReCircle

Founded by Rahul Nainani and Gurashish Sahni, Recircle is a clean tech startup which offers comprehensive end-to-end tech-led services for ethical circularity in waste management.