Ranjith Boyanapalli-Led Flash Raises $5.8 Million In Seed Funding Round

Updated on: 1 December 2022 3:49 am

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Flash, an early-stage start-up founded by former Flipkart executive Ranjith Boyanapalli, raised $5.8 million in seed funding in an investment round led by White Venture Capital, Zinal Growth and Global Finance Capital.

Along with these global funds, a set of angel investors including Binny Bansal, former co-founder of Flipkart, Kunal Shah, founder of CRED, Sujeet Kumar, co-founder of Udaan, Nikhil Srivastava of PAG Venture and Lalit Keshre, CEO of Groww, invested in the company.

Flash will utilise the prospects of this investment round in product development, expanding in global markets and hiring skilled employees, according to the press statement.

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Ranjith Boyanapalli, founder and chief executive officer of Flash said that the company aims to craft a digital shopping identity for power shoppers, which will enable delightful shopping experiences. The digital shopping identity will allow online shoppers to access personalised experiences, rewards and clutter-free communications.

"Our AI/ML-led platform will be backed by best-in-class encryption to protect the privacy and give control back to the consumer. 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,” he added.

"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," added Roel Janssen, partner at Global Founders Capital.