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 FedEx Corp. (NYSE: FDX) has launched FedEx Innovation Lab(FIL) to cultivate and collaborate with rising early-stage digitalstart-ups in the key market of India as well as the widerregion.

FIL will make early-stage investments in these partnerships andbring additional value in terms of capabilities and speed to marketto start-up firms through the FedEx network, resources, and globalcustomer base. These collaborations will help expand FedEx advanceddigital capabilities globally as it continues to evolve itsoperations and product offerings to meet the needs of the modernsupply chain. The partnerships formed through FIL will benefitcustomers globally.

FIL’s first investment is in Mad Street Den, a computer vision andArtificial Intelligence (AI) company that is a leader in enterpriseAI solutions. The start-up’s AI platform enables marketing, productand technology teams to improve and optimize efficiencies. Theirproducts are deployed across several industries, including retail,healthcare, finance, media and entertainment, education, andmore.

“Innovation is embedded in our business strategy. As we celebrateour 50th anniversarythis year, the launch of FIL is another exciting step in creatingWhat’s Next for our customers. We are committed to using advancedtechnology and data-driven insights to create smarter supply chainswith differentiated offerings to deliver greater value andexperience for customers,” said Kawal Preet, president, AsiaPacific, Middle East, and Africa (A***) region, FedEx Express.

FIL is looking for more collaborations to help create smartlogistics for all. FIL’s primary focus is India, which hasprogressed in the ranks of the Global Innovation Index[1] andis the primary focus for FIL providing a rich pipeline ofearly-stage digital logistics firms from which FedEx can curate ameaningful portfolio of partners. The wider region is also a hotbedof technological innovation[2] andpartnership opportunities.

“India is now home to the world’s third largest start up ecosystemand at the core of innovation strategies for global technologyleaders which makes it an ideal market for the FedEx Innovation Labto build technology-driven partnerships,” said Kami Viswanathan,senior vice president, FedEx Express, Middle East, IndianSubcontinent and Africa region. “There is much mutual benefit thatcan be gained through this approach as well as a tremendousopportunity to help transform the global logistics industry. Wewould welcome any interest from innovators with a shared interestin our vision.”