Walmart-owned e-commerce major, Flipkart has struck a deal to acquire a majority stake in Minivet AI, a year-old artificial intelligence and machine learning solutions provider, as the e-commerce major looks to strengthen its generative AI capabilities for visual and conversational commerce. Flipkart did not disclose the financial terms of the deal.
The acquisition is subject to completion of customary closing conditions, the company said in a statement.
Flipkart said the acquisition will help it build AI-powered features focused on video content generation, conversational search, and enhanced product discovery on its platform.
Solving the Scalability Gap
Minivet AI specialises in generating video content for e-commerce, converting static product catalogs into videos at scale using model orchestration and performance optimization techniques. The startup also offers a broader suite of AI capabilities for online retail platforms.
“This partnership with Flipkart is a pivotal moment for Minivet AI. It allows us to accelerate the deployment of our proprietary GenAI solutions, from catalog videofication to conversational search, directly onto India’s leading e-commerce platform at scale,” said Aditya Rachakonda, Founder of Minivet AI.
Shifting from Search Boxes
Ravi Iyer, Senior Vice President – Corporate at Flipkart, said the acquisition will enhance the company’s GenAI capabilities through integration of specialized talent and proprietary technology, including solutions for catalog videofication and semantic search. These capabilities are critical for addressing the industry trend of visual-first and video-first commerce, he added.