Flipkart acquires majority stake in GenAI startup Minivet

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.