FedEx has launched FedEx Innovation Lab (FIL) to collaborate with digital start-ups in India. These collaborations will help expand advanced digital capabilities globally as it continues to evolve its operations and product offerings to meet the needs of the modern supply chain. The partnerships formed through FIL will benefit customers globally. FIL will make early-stage investments in these partnerships and bring additional value in terms of capabilities and speed to market to start-up firms through the FedEx network, resources, and global customer base.
FIL’s first investment is in Mad Street Den, a computer vision and Artificial Intelligence (AI) company that is a leader in enterprise AI solutions. The start-up’s AI platform enables marketing, product and technology teams to improve and optimize efficiencies. Their products are deployed across several industries, including retail, healthcare, finance, media and entertainment, education, and more.
“India is at the core of innovation strategies for global technology leaders. Following the recent announcement of our plans to open the first Advanced Capability Community in Hyderabad, FIL further reinforces the importance we place on tapping new technologies and a wide range of talent,” said Kami Viswanathan, Senior Vice President, FedEx Express, Middle East, Indian Subcontinent and Africa region. “There is much mutual benefit that can be gained as well as a tremendous opportunity to help transform the global logistics industry. We would welcome any interest from innovators in India with a shared interest in our vision.”