New Delhi, Dec 19 (PTI) Ecommerce company Flipkart on Friday said it has acquired a majority stake in Minivet AI, an Artificial Intelligence and Machine Learning solutions provider.
The acquisition is a strategic move to build and invest in core Generative AI (GenAI) capabilities, at a time when e-commerce is rapidly shifting towards visual, conversational, and AI-led discovery, the Walmart-backed ecommerce firm said in a statement.
It, however, did not disclose the financial details of the acquisition, including the quantum of stake bought or size of deal.
"Flipkart, India's homegrown e-commerce marketplace, today announced it executed definitive documents to acquire a majority stake in Minivet AI, an innovative AI/ML solutions provider founded in 2024," it said.
The latest move is expected to accelerate the transition to a more intuitive, interactive, and immersive shopping experience for e-commerce platforms, including Flipkart, it said.
Minivet AI focuses on generative video for e-commerce, transforming static product catalogs into rich, engaging video content at scale.
"Built on a foundation of sophisticated model orchestration and deep performance optimisation, the platform delivers quality results at a fraction of traditional production costs," according to Flipkart.
Beyond video, Minivet AI offers a wider suite of e-commerce AI capabilities, positioning the company as a full-stack AI partner and a foundational GenAI capability for online retail platforms, the release added.