Move to fuel digital capabilities for ‘What’s Next’
FedEx Corp. has launched FedEx Innovation Lab (FIL) to cultivate and collaborate with rising early-stage digital start-ups in the key market of India as well as the wider region.
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.
These collaborations will help expand FedEx 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, a press communique indicated.
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.
“Innovation is embedded in our business strategy. We are committed to using advanced technology and data-driven insights to create smarter supply chains with differentiated offerings to deliver greater value and experience for customers,” remarked Kawal Preet, President, Asia Pacific, Middle East, and Africa (AMEA) Region, FedEx Express.
“India is now home to the world’s third largest start up ecosystem and at the core of innovation strategies for global technology leaders which makes it an ideal market for the FedEx Innovation Lab to build technology-driven partnerships,” concluded Kami Viswanathan, Senior Vice President, FedEx Express, Middle East, Indian Subcontinent and Africa region.
