Flipkart launches fund to back early-stage start-ups

NEW DELHI: E-commerce firm Flipkart on Tuesday launched a fund to back early-stage start-ups in the country. The fund will target budding companies working in areas related to e-commerce, financial technology, payments and complementary spaces, the e-commerce firm said in a statement.
The objective of the fund is to build the ecosystem with world-class founders and ideas, it added.
“With this initiative, we’re delighted to support such innovative early-stage start-ups that are working on next-gen technology in and around our ecosystem. The aim is to seed innovation that is good for India and which promotes digital inclusion in a variety of spaces, by enabling start-ups to focus on bringing their ideas to life and scaling them,” Flipkart group chief financial officer Emily McNeal said.