Flipkart Ventures will invest in six early-stage startups as part of its accelerator programme. In another development, Atal Incubation Centre (AIC) )—Pinnacle Entrepreneurship Forum was selected under the ‘Startup India Seed Fund Scheme (SISFS)’ announced by the Department for Promotion of Industry and Internal Trade (DPIIT).
Flipkart Ventures to invest in six startups
Flipkart Ventures, the $100 million venture fund set up by e-commerce major Flipkart, will invest in six early-stage startups as part of its accelerator programme Flipkart Leap Ahead, per an announcement.
The startups were selected after a selection process that involved multiple rounds of evaluation based on objective criteria. The six selected startups will receive an equity investment of up to $500,000, in addition to customised programmes designed by Bain & Company, the company statement said.
The programme aims to provide early-stage startups with mentorship and guidance to grow, scale, and build disruptive innovations that solve for Digital India, the statement added.
The startups selected for the programme are :
Dopplr, a metaverse platform
Livwell, an insurtech firm
NeuroPixel.AI, an automated catalog deeptech
Rightbot Technologies, a robotics fulfillment company
SellerApp, which is a seller enablement startup
AIC-Pinnacle to support 19 startups
Incubation and investment platform Atal Incubation Centre (AIC)-Pinnacle Entrepreneurship Forum has been selected under the ‘Startup India Seed Fund Scheme (SISFS)’ announced by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
Under this scheme, AIC-Pinnacle Entrepreneurship Forum will be receiving a grant of Rs4.5 crore.
“Through this assistance, we are aiming to incubate and provide financial assistance to 19 early-stage startups over the next three years. We will be helping the early-stage startups with prototype development, product trials, outreach activities, legal compliance, IP support, market-entry, commercialisation, scaling up, etc,” said Sudhir Mehta, founder, AIC-Pinnacle Entrepreneurship Forum, and Chairman of Pinnacle Industries and EKA.