Flipkart said 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.
Who are the selected startups?
The selected startups that will receive equity-based funding are Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle.
The company said that the selected 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.
In addition to providing funding in a range from $250,000 to $500,000, The company will also provide mentorship for growth and innovation and will help in achieving product-market fit.
What is Flipkart's Leap Ahead Program?
Launched in January 2022, the Flipkart Leap Ahead program is Flipkart's flagship startup accelerator program where selected startups undergo a curated program formulated to prepare them for accelerated scaling and expansion.
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."
Algomage - Founded by Anand Rathi in 2021, Algomage automates end-to-end image post-production (culling, editing, and sharing) 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 digitizes escrow banking to offer a user-friendly, efficient, and secure experience for managing payments and settlements.
It combines the functions of an escrow service, a trusteeship service, and transaction management tools to provide a comprehensive solution for managing escrow transactions.
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 customize 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 cleantech startup with a mission to create a circular economy by diverting waste away from landfills and oceans.
It offers comprehensive end-to-end tech-led services for ethical circularity in waste management.