Walmart-owned ecommerce big Flipkart has signed definitive settlement to amass a majority stake in Bengaluru-based generative AI startup Minivet, for an undisclosed quantity.
The acquisition comes at a time when digital commerce is more and more shifting in the direction of visual-first, video-led and conversational discovery.
By integrating Minivet AI’s proprietary expertise, Flipkart goals to speed up the creation of extra intuitive, interactive and immersive purchasing experiences throughout its platforms.
Minivet AI focuses on generative video options for ecommerce, enabling the transformation of static product catalogues into wealthy and interesting video content material at scale. Constructed on subtle mannequin orchestration and deep efficiency optimization, the platform delivers high quality outcomes at a fraction of conventional manufacturing prices. It additionally presents a broader suite of e-commerce AI capabilities.
Aditya Rachakonda, founding father of Minivet AI, stated the partnership would assist quickly deploy the corporate’s proprietary GenAI options at scale.
“This partnership with Flipkart is a pivotal second for Minivet AI. It permits us to speed up the deployment of our proprietary GenAI options, from catalog videofication to conversational search, instantly onto India’s main ecommerce platform at scale, making purchasing extra intuitive and immersive for thousands and thousands of consumers,” he stated.
Ravi Iyer, senior vice chairman – company at Flipkart, stated integrating Minivet AI’s area of interest expertise and proprietary expertise would improve important capabilities akin to catalog videofication and semantic search.
“These are important for addressing the rising trade development of visual-first and video-first commerce, in the end driving greater buyer engagement, conversions and long-term innovation throughout the Flipkart platform and, over time, the broader Flipkart Group ecosystem,” he stated.