E-commerce startup Flash secures $5.8 million seed funding
Flash, an e-commerce startup launched by former Flipkart executive Ranjith Boyanapalli, has secured $5.8 million in seed funding. The business aims to cater to frequent online shoppers and plans to expand across India before launching internationally.
The business will use its new funds to develop its e-commerce product, hire more employees, and expand globally, ET Bureau reported. After launching in India, Flash is set to debut in the US and Europe in the coming year and a half.
The business offers online shoppers tools to manage their purchased from across the internet in one location. Users will be able to use their own “digital identity” to track and manage current orders and services from one easy to use interface. Flash will also make it easier for shoppers to use rewards programmes online.
“Power shoppers who shop online, order food or groceries as many as 400 times a year have a very broken experience, devoid of synergy,” Boyanapalli told Bloomberg in an interview. Flash is designed to solve this market pain point by offering a comprehensive solution.
India’s e-commerce market is continuing to grow at a swift pace as more and more people embrace online shopping across the country. The country had the world’s third largest online shopper base of over 190 million users at the end of 2021. By 2030, the Indian e-commerce shopper base is expected to rise to 650 million creating a significant opportunity for growth, according to Flash.
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