Flipkart’s co-founder Binny Bansal is looking to start his second innings by launching a new start up which will offer technological tools, learning and consulting services to the developing start-ups looking to grow at large scale, as per a report by The Economics Times.
Former McKinsey consultant and former Flipkart’s supply chain head Saikiran Krishanmurthy is expected to join hands with Binny for this new project called xto10x Technologies. Saikiran was the head of Flipkart’s logistics arm eKart from 2015 to 2017.
However, the upcoming venture is at the concept stage and both Binny and Krishnamurthy will begin hiring from January next year.
"It is a mix of SAP, Coursera and McKinsey for startups as they want to create a new-age consulting model. The idea is to disrupt traditional consulting firms with tech-backed solutions and tools which do not require hundreds of partners’’, a source said.
"They aim to help transform product-market fit and initial business momentum into at-scale, well-rounded companies, a problem being faced by many in the Indian ecosystem. This, they have realised, cannot be solved by capital alone’’, the source added.
The xto10x Technologies will offer these services, a product suite across strategy and data science to execution, a learning platform with curated courseware, events and reference cases and consulting and mentoring to help founders.
As per some reports, Saikiran Krishnanmurthy is likely to be the Chief Executive Officer (CEO) and Binny Bansal to be the executive chairman in xto10x technologies.
The news of Bansal starting new project came after he stepped down as Flipkart’s CEO and Chairman after an independent probe into an allegation of serious personal misconduct. Even, Flipkart’s co-founder Sachin Bansal resigned from the company after Walmart purchased 77 per cent of shares for $16 billion.
Now, Sachin is looking to enter in two emerging sectors in India, which are agriculture and financial technology.