Flipkart Acquires Majority Stake in Minivet AI to Enhance GenAI Capabilities in E-commerce

Flipkart, the prominent Indian e-commerce company, has acquired a majority stake in Minivet AI. This acquisition aims to bolster Flipkart's generative AI capabilities for a more engaging shopping experience. Minivet AI specializes in transforming product catalogs into dynamic video content, offering a comprehensive suite of AI solutions for online retail.

Flipkart, India's leading e-commerce platform, announced on Friday that it has secured a majority stake in Minivet AI, a firm specializing in artificial intelligence and machine learning solutions. The strategic acquisition aligns with Flipkart's goal to enhance its Generative AI capabilities.

This move comes as the e-commerce industry increasingly shifts towards AI-driven visual and conversational experiences. While Flipkart refrained from disclosing the financial specifics, the acquisition underscores its commitment to innovative technological investments.

Minivet AI focuses on converting static online catalogs into engaging video content, leveraging advanced model orchestration and optimization techniques. This development positions Minivet AI as a key full-stack AI partner, further reinforcing Flipkart's status in the online retail sector.

(With inputs from agencies.)