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Flipkart acquires majority stake in GenAI startup Minivet AI

EntrackrEntrackr · 1d ago
Flipkart acquires majority stake in GenAI startup Minivet AI
Medial

Flipkart acquires majority stake in GenAI startup Minivet AI Minivet AI focuses on converting static product catalogues into visual and video based content using artificial intelligence. Flipkart has acquired a majority stake in Minivet AI, a generative artificial intelligence startup, according to an announcement by the company. The financial terms of the transaction were not disclosed. Minivet AI was founded in 2024 and works on generative video and visual content solutions for ecommerce platforms. The startup focuses on converting static product catalogues into visual and video based content using artificial intelligence. According to Flipkart, Minivet AI’s technology will be used to support product discovery and content creation on its ecommerce platform. The company added that the startup’s tools enable the creation of visual assets at scale. The acquisition comes as e-commerce companies increase the use of artificial intelligence across cataloguing and customer facing applications. Several platforms have been deploying AI tools to improve content quality and consistency across large seller bases. Flipkart did not share details on the integration timeline or operational structure following the transaction. In September, Flipkart also acquired a majority stake in digital entertainment and lifestyle platform Pinkvilla for an undisclosed amount.

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Ecommerce roll-up firm GOAT Brand Labs acquires Frangipani

IndianStartupNewsIndianStartupNews · 2y ago
Ecommerce roll-up firm GOAT Brand Labs acquires Frangipani
Medial

Mumbai-based e-commerce roll-up firm GOAT Brand Labs has acquired the remaining stake of founders in children's nightwear and loungewear brand Frangipani, aligning with terms initially outlined during the majority acquisition in 2021. Frangipani offers children's nightwear and loungewear, gaining recognition for its kidswear products. The acquisition aims to boost Frangipani's growth in India and international markets, with GOAT Brand Labs providing digital marketing, technology support, working capital management, and distribution expansion. GOAT Brand Labs acquires and scales direct-to-consumer (D2C) brands and has a portfolio of around 20 brands, backed by global investors like Tiger Global and Flipkart.

30 Startups To Watch: AI Startups That Caught Our Eyes In February 2024

Inc42Inc42 · 1y ago
30 Startups To Watch: AI Startups That Caught Our Eyes In February 2024
Medial

India's Generative Artificial Intelligence (GenAI) startup ecosystem is poised for exponential growth, with the market expected to surpass $17 billion by 2030. Inc42 has highlighted 30 promising GenAI startups to watch, with a majority based in Bengaluru. These startups are using GenAI tools and technologies to automate content creation, enhance user experience, optimize business processes, and improve decision-making. Some notable startups include Alltius, which offers AI assistants for enterprise applications, and Athina AI, which helps companies evaluate and ensure the safety of their AI models. Other startups focus on areas like synthetic data generation, recruitment automation, video content creation, and code error correction, among others. With the Indian AI ecosystem on the brink of rapid growth, these startups are at the forefront of innovation in the country.

How BharatGPT’s Indic-First LLM Is Bridging Language Barriers, Empowering Enterprises

Inc42Inc42 · 1y ago
How BharatGPT’s Indic-First LLM Is Bridging Language Barriers, Empowering Enterprises
Medial

OpenAI's ChatGPT, powered by generative AI (GenAI), is a major breakthrough in natural language understanding and processing. The intelligent chatbot utilizes large language models to generate content in various formats and languages. McKinsey & Company estimates that GenAI and other technologies could automate the majority of work activities, leading to increased productivity. However, there are concerns about GenAI falling short of community expectations, as demonstrated by the limited accuracy in generating a portrait of Lord Rama. Access to information is a crucial aspect of GenAI's future, as there is a significant gap in availability of non-English content for the majority of the Indian population. OpenAI is continually working to improve the conversational abilities of its GenAI models, with claims that the upcoming GPT-4o will be faster and more natural in its responses.

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