Flipkart US$ 100 million venture fund invests in 6 startups, will mentor them
The US$ 100 million venture fund of the e-commerce giant, Flipkart Ventures, has announced plans to invest in six startups in the areas of virtual storefronts, robotics automation, and try-on clothing.
After going through several rounds of evaluation, the six startups were chosen for the Flipkart Leap Ahead accelerator programme. Up to US$ 500,000 in equity investment will be given to them.
A 16-week mentorship training programme for startups has been designed by Bain & Company. They will regularly meet with Flipkart leaders with backgrounds in business, product, technology, and finance. On a demo day at the end of the programme, the startups will pitch their concepts to prospective investors and business executives.
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