Flipkart announced the launch of Flipkart Labs to build and create technology-based solutions for redefining ecommerce and enhancing the shopping experience for millions of customers. Based out of its headquarters in Bengaluru, Flipkart Labs will fast-track an in-house innovation capability and leverage emerging technologies, incubate cutting-edge ideas, and deliver breakthrough solutions to the ecosystem.
The innovation lab will test new Web3 and Metaverse use-cases with real-world applications, including NFT (Non-Fungible Tokens) related use-cases, Virtual Immersive Storefronts, Play to Earn, and other Blockchain-related use-cases. It will also research areas such as customer experience, logistics/supply chain and accelerating digital commerce in the future.
The 3D and Augmented Reality (AR) based Flipkart Camera, formed after the acquisition of AR/VR startup Scapic in November 2020, will also be a priority for the Innovation Lab.
Jeyandran Venugopal, Chief Product and Technology Officer, Flipkart, said,
“Flipkart has pioneered innovation in eCommerce 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. ”
Naren Ravula, VP and Head, Product Strategy and Deployment, Flipkart Labs, said,
“We are in the early days of a paradigm shift from Web2.0 to Web3.0, and this evolution of the web/internet built on the concepts of decentralization, openness, and greater user utility, will have a profound impact across many areas including eCommerce. Web 3.0 is poised to play a strong role in India's digital acceleration. We are committed to the growth of the eCommerce ecosystem in India and Web 3.0 leverages the best of latest technology like blockchain for real-world use cases that can digitally transform businesses like ours, some of the use-cases like immersive commerce, NFT, and more are very promising, and as one of the first areas of focus in Flipkart Labs, we want to collaborate with the passionate Web3 community, innovate and set the standard for commerce in the Metaverse,” he said".