Flipkart $100 mn venture fund invests in 6 startups, will mentor them

Flipkart Ventures, the $100 million venture fund of the e-commerce firm, has said it will invest in six start-ups whose innovations range from providing virtual stores, robotics automation and try-on apparel.

The start-ups were selected for an accelerator programme called Flipkart Leap Ahead after a selection process that involved multiple rounds of evaluation. They will receive an equity investment of up to $500,000.

“We want to support startups to scale up their businesses and build relevant solutions to solve complex problems in consumer internet and technology ecosystem,” said Ravi Iyer, senior vice president and head, corporate development at Flipkart.