Applications are being accepted for the third batch of Flipkart Ventures’ accelerator program, Flipkart Leap Ahead (FLA).
Flipkart Ventures states that the chosen businesses that integrate GenAI into their fundamental solutions for various industries will get equity investments ranging from $200,000 to $500,000.
Applications from early-stage tech businesses can be submitted between April 22, 2024, and May 26, 2024.
The program includes a two-month mentorship period with industry professionals, operators, and founders for the selected firms. The program will end in a demo day where entrepreneurs will present their goals and progress to prospective investors in an effort to win more funding for their growth.
In its first two cohorts, Flipkart Ventures has invested in more than 15 startups in industries like deeptech, finance, healthtech, generative AI, and climate & sustainability.
As part of the Flipkart Leap Ahead accelerator program, FlexifyMe, Algomage, Castler, NimbleBox.ai, and ReCircle are among the five firms that Flipkart Ventures announced in September 2023 that they will support.
Now that ChatGPT and a few other generative AI platforms have gained traction, venture capitalists are turning their attention to this emerging market. In December 2023, Lightspeed led a $41 million Series A round for Sarvam AI, and Ema took home $25 million, the second-largest funding deal for an early-stage business in this industry. Vodex, a different Gen AI startup, raised $2 million from Unicorn India Ventures and Pentathlon Ventures in its seed round. Neysa obtained $20 million in seed fundraising earlier this month, with NTTV, Matrix Partners India, and Nexus Venture Partners serving as the lead investors.
