E-commerce startup Flash has raised $5.8 million in a seed round led by Global Founders Capital (GFC), White Venture Capital, Soma Capital, Emphasis Ventures, Zinal Growth, and Peer Capital. Other angel investors including Binny Bansal, Kunal Shah, Arpan Sheth, Sujeet Kumar, Nikhil Srivastava, Lalit Keshre, and Rishi Vasudev also participated in this round.
The company will use the funds for product development, global expansion, and hiring.
Bengaluru-baed Flash was founded by Ranjith Boyanapalli, former Flipkart Senior Vice President. Flash is an e-commerce platform with an aim to create an end-to-end ecosystem to empower consumers.
“Our artificial intelligence and machine learning (AI/ML)-led platform will be backed by encryption to protect privacy and give control back to the consumer. We are aiming to onboard two million users in our first year,” Boyanapalli said.
Flash wants to address the post-order experience via a unique digital shopping identity. Users will be able to track their orders placed on different e-commerce platforms. The platform is not ready yet and the company has not confirmed when it could go live. For now, the company is only allowing users to register for the waitlist program on the website.
Ranjith also founded BuyThePrice.com in 2010 and sold the company to Tradus in 2013.
