Binny Bansal is all set to don the hat of a startup entrepreneur all over again, following his abrupt resignation from Flipkart almost a month back after being accused of personal misconduct by an ex-employee. Binny’s re-enter into the startup ecosystem will mark the comeback of an entrepreneur who has undeniably played an important role in inspiring a whole new generation of Indian entrepreneurs.
Binny’s new startup will be known as Xto10X Technologies. According to Economic Times, Xto10X Technologies will provide technology tools, learning and consulting services to startups that are tethering on growth stage level. However, the startup is still in its initial stage and is likely to hire an executive team by January next year.
A person, who didn’t want to identify, said to Economic times that Xto10X Technologies will seek to disrupt the traditional consulting firms with its cutting-edge tech solutions and tools. Their services will help startups with a market-fit product and initial business momentum to transform into a financially stable company, the unidentified person added, claiming that capital alone is not sufficient enough to achieve financial stability.
Xto10X’s clients will mostly constitute of series B and series C startups.
According to reports, Binny’s startup will mainly provide three types of offering to its clients
- a product suite that will cater to different strategies
- a learning platform that will be inclusive of curated courseware & also important references
- a mentorship to help startup founders.
In Bansal’s second entrepreneurial stint, Ex senior Flipkart employee Krishnamurthy will play an important role. If grapevines are to be believed then Krishnamurthy, who recently quit his job at Ola, will be one of the investors in xto10x. Sources further claim that Krishnamurthy will be CEO whereas Binny will be executive chairman of the company.
(The news was reported by Economic Times)