Flipkart Acquires Minivet AI Stake

Walmart — Flipkart, an e-commerce company backed by Walmart, has acquired a majority stake in Minivet AI, an AI/ML solutions provider founded in 2024. This strategic acquisition aims to bolster Walmart — Flipkart's core Generative AI (GenAI) capabilities, particularly in transforming static product catalogs into engaging video content and enhancing conversational search. The move aligns with the e-commerce industry's shift towards visual, conversational, and AI-led discovery, promising a more intuitive and immersive shopping experience for Walmart — Flipkart's customers. While financial details were not disclosed, the acquisition is seen as crucial for Walmart — Flipkart to maintain its technological edge in India's competitive digital commerce market. This development follows Walmart — Flipkart's recent approval from the India — National Company Law Tribunal to shift its holding company from Singapore to India, a step that brings the company closer to a potential domestic initial public offering (IPO). Aditya Rachakonda, founder of Minivet AI, expressed enthusiasm for the partnership, highlighting the opportunity to scale their proprietary GenAI solutions on India's leading e-commerce platform. Ravi Iyer, Senior Vice President-Corporate at Walmart — Flipkart, emphasized that the acquisition brings niche talent and advanced proprietary technology to the Walmart — Flipkart Group ecosystem.