In addition to promoting ideas, Flipkart Labs will deliver “breakthrough solutions” using emerging technologies, it said.
On Thursday, Flipkart announced the launch of an innovation initiative to explore and design technology-based solutions for enhancing e-commerce and shopping experiences.
Flipkart Labs, situated in Bengaluru, will support in-house innovation by leveraging new technology, pushing ideas, and providing “breakthrough solutions” according to the business.
Flipkart and its group companies will be able to test novel Web3 and Metaverse use-cases with real-world applications, such as NFT-related use-cases, Virtual Immersive Storefronts, Play to Earn, and other Blockchain-related use-cases, through Labs. “As we grow and experiment, we will operate at the intersection of business and technology to make innovation real and relevant for customers,” said Flipkart’s chief product and technology officer, Jeyandran Venugopal.
“With Flipkart Labs, we are looking at strengthening our in-house innovation capabilities by carving out a dedicated, entrepreneurial team and look forward to bright and curious minds joining us to transform the way India shops. ”
Web 3.0, according to Naren Ravula, vice president and head of product strategy and deployment at Flipkart Labs, is poised to play a significant part in India’s digital acceleration. He stated that the company is dedicated to the development of India’s e-commerce ecosystem, and that Web 3.0 harnesses the best of the latest technologies, such as blockchain, for real-world use cases that may digitally change businesses like ours. “Some of the use-cases, such as immersive commerce, NFT-related use-cases, and others, are very promising,” Ravula added.
Flipkart Labs will be based under the Flipkart Group’s Product Strategy & Deployment (PSD) arm and will collaborate with talent to produce technical solutions in this field. It will also consider prospective relationships with brands, merchants, startups, and technologists outside of the organisation.
Jeyandran Venugopal, Chief Product and Technology Officer, Flipkart, said, “Flipkart has pioneered innovation in e-commerce in India and made it an integral part of our lives. This has been possible with many innovative initiatives over the last decade such as Cash On Delivery (CoD), Easy Returns, No Cost EMI, and more. As we continue to grow and experiment, we will operate at the intersection of business and technology to make innovation real and relevant for customers. With Flipkart Labs, we are looking at strengthening our in-house innovation capabilities by carving out a dedicated, entrepreneurial team and look forward to bright and curious minds joining us to transform the way India shops. ”