Flipkart To Embrace Deep Tech, Plans To Make Investments $25 Million In A Silicon Valley Startup


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Indian eCommerce large Flipkart is reportedly looking giving a boost to its IT infrastructure and is consequently looking at making investments in deep-generation companies inside the Silicon Valley.
The move is touted to be an endeavour to catch up with the worldwide e-tail massive Amazon, which has a sturdy foothold in India.

Consistent with reports, Flipkart is set to make investments $25 million in an artificial intelligence startup. “Flipkart is looking at tech acquisitions in the valley because differentiated tech is a brand new focus place for the enterprise… 

The concept is to bring these Indian tech founders from the USA who can convey deep technology talents that don’t exist in India,” someone aware about the company’s plans told a newspaper.

He also said that Flipkart turned into lagging behind with admire to technology by nearly four to 5 years. “Even as of 2015, Flipkart’s catalogue management device was damaged. The quest is still damaged,” he added.

Over the past decade, Amazon has assiduously constructed its tech muscle with the help of AI, machine gaining knowledge of and robotics. In step with investor Vikram Gupta, founder of assignment capital firm ivycap Ventures, taking over Amazon inside the AI warfare is an uphill undertaking. “Amazon is a robust organization one with a completely long-term approach. And it'll now not be smooth for Flipkart to go in opposition to it… 

Amazon is leaps and limits in advance of the marketplace in the usage of those new technologies and could stay the number one store within the international over the subsequent five to seven years,” he stated reportedly, speakme about the Seattle-based totally large’s heft.

Amazon had earlier made news for plowing in over ₹13,800 crore in its India market, extensively ramping up gadget getting to know and artificial intelligence to boom the market percentage in the usa.

Flipkart had made a huge push in AI ultimate month by means of setting up their own inner unit referred to as aiforindia – a huge try to positioned device gaining knowledge of and AI on the center of its commercial enterprise. In keeping with news reviews. 

The brand new AI group might be headed via chief information scientist Mayur Datar in conjunction with Bansal and Flipkart chief government Kalyan Krishnamurthy.

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