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FedExCorp. on Thursday launched FedEx Innovation Lab (FIL) to cultivate and collaborate with rising early-stage digital startups in India.

This innovation lab is aimed at making early-stage investments in these startups and bringing additional value in terms of capabilities and speed to market to startup firms through the FedEx network, resources, and global customer base, the company said in a statement.

The partnerships formed through FIL are expected to benefit customers globally.

“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,” said Kami Viswanathan, Senior Vice President, FedEx Express, Middle East, Indian Subcontinent, and Africa region.

Mad Street Den, a computer vision and Artificial Intelligence (AI) company is FIL’s first investment. The startup’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.

“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,” said Kawal Preet, President, FedEx Express, Asia Pacific, Middle East, and Africa (AMEA).