Flipkart Ventures, the corporate investment arm of the popular e-commerce giant Flipkart, has announced an exciting opportunity for startups. They’re now accepting applications for the third cohort of their accelerator program, Flipkart Leap Ahead. This program is designed to support early-stage tech startups and will accept applications from April 22 to May 26, 2024.
What’s unique about this accelerator is its focus on startups leveraging GenAI technology in their core solutions across various sectors. Selected startups will receive equity funding between $200,000 and $500,000. But that’s not all. Alongside the funding, participants will benefit from invaluable mentorship to help them achieve product-market fit, develop scalable architecture, and build robust teams.
So, if you’re a tech startup with innovative solutions powered by GenAI, this could be your chance to take your venture to the next level with Flipkart’s support.
Flipkart Venture Fund Exciting Opportunity for Startups
Flipkart Ventures, Flipkart’s investment arm, is offering startups a fantastic opportunity. They’re running an accelerator program called Flipkart Leap Ahead. The program lasts for two months and includes mentorship.
At the end of the two months, there’s a special event called a demo day. This is where startups can show off their progress and future plans to potential investors. This could help them get more funding to grow their businesses even more. Lubna Ahmed, who leads Flipkart Ventures, said that the program gives startups a lot of money and really helpful mentorship. She’s excited to see what new ideas and innovations the next group of startups will bring.
Flipkart Leap Ahead Empowered Over 15 Startups and Counting
In its first two rounds, Flipkart’s venture fund has helped over 15 startups in various fields like technology, finance, health, AI, and sustainability to get funding. Some of these startups, like RightBot, Tune.ai, LivWell, FlexifyMe, and Dopplr, have even received additional investments after being part of the program.
Now, Flipkart Venture Fund is looking for more Indian startups. They want early-stage technology startups, from just starting out to having some initial success (Seed to Series A stage). They’re interested in sectors like finance, mobility, AI, health, software, online marketplaces, deep tech, and sustainability.
And here’s the exciting part: Flipkart Ventures has a $100 million fund for these early-stage startups. So, if you’re ready to take your startup to the next level, apply now and see how Flipkart can help you grow!
Flipkart’s Valuation Drops by $5 Billion
According to reports, Flipkart’s value has decreased by $5 billion (around Rs 41,000 crore) compared to January 2022. This information comes from equity transactions done by its parent company, Walmart, based in the US. As of January 31, 2024, Flipkart’s valuation was $35 billion, down from $40 billion in January 2022. Walmart changed Flipkart’s equity structure, leading to this value drop.
Flipkart explained that this decrease was because its fintech arm, PhonePe, became a separate company after being demerged from Flipkart.
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