Ecommerce Startup Flash Raises $5.8M In Seed Funding
Flash.co has raised $5.8 million in its seed funding round led by Global Founders Capital (GFC), White Ventures Capital, Zinal Growth, Emphasis Ventures, Soma Capital, and Peer Capital.
The funding round also saw participation from angel investors such as Binny Bansal (former co-founder of Flipkart), Kunal Shah (founder of CRED), Arpan Sheth (Senior Partner, Bain & Co), Sujeet Kumar (Co-founder of Udaan), Lalit Keshre (CEO of Groww), among others.
As per the startup, the raised funds will be used for product development, hiring, and global expansion.
Flash | Simplifying Online Shopping
Founded by Ranjith Boyanapalli, former senior vice president at Flipkart, Flash.co is an ecommerce platform that is simplifying online shopping for shoppers & brands and aims to elevate the shopping experience of online power shoppers across the world.
Its AI/ML-led platform offers an end-to-end ecosystem that empowers consumers to be in control of their shopping and communication and unlock personalized experiences.
Speaking about the development, Ranjith Boyanapalli, Founder and CEO of Flash, said,
“We are aiming to onboard two million users in our first year. With an elite guild of VC Funds and Angel investors on board, who have put their trust in us and supported us with their experience, we hope that Flash can undoubtedly change the way we shop.”
The platform is crafted to solve the untapped challenges of power shoppers, across post-order experience, lack of rewards, and cluttered communication.
As per the startup, power shoppers are an important consumer segment, and their challenges are bound to magnify with increasing e-commerce penetration in India and globally.
Commenting on the development, Roel Janssen, Partner, Global Founders Capital, said,
“We are excited to back a founder like Ranjith, who has extensive experience building great consumer products. Power shoppers are an important consumer segment, and their challenges are bound to magnify with increasing eCommerce penetration in India and globally. We are impressed with the Flash team and product and are confident that they will make a significant impact over the coming years.”