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Billionaire Flipkart founder Binny Bansal ready to launch stealth AI startup

Economic Times

Economic Times · 1y ago

Billionaire Flipkart founder Binny Bansal ready to launch stealth AI startup

Billionaire Binny Bansal, co-founder of Indian e-commerce giant Flipkart, is launching an AI-as-a-service startup targeting global customers. The venture plans to offer AI talent, products, and services to corporate clients, following the outsourcing model of companies like Tata Consultancy Services and Infosys. The startup, headquartered in Singapore and with main operations in Bengaluru, aims to tap into India's English-speaking population to train more AI experts. While the exact offerings are not disclosed, the startup will initially focus on the legal and e-commerce industries, with plans to expand to the US.

Related News

Flipkart co-founder Binny Bansal invests in public markets fund

VCCircle

VCCircle · 1y ago

Flipkart co-founder Binny Bansal invests in public markets fund

Flipkart co-founder and billionaire Binny Bansal has made an investment in an alternative investment fund that focuses on publicly listed Indian companies. Since his exit from Flipkart in 2018, Bansal has been actively investing in startups and launching new ventures. His latest investment in the public markets fund showcases his interest in diversifying his investment portfolio.

Flipkart founder Binny Bansal may put $25-30 million more in Ankit Nagori’s Curefoods

Economic Times

Economic Times · 1y ago

Flipkart founder Binny Bansal may put $25-30 million more in Ankit Nagori’s Curefoods

Flipkart founder Binny Bansal may increase his investment in Curefoods, a startup founded by Nagori brothers. Curefoods focuses on delivering fresh produce directly from farmers to consumers. Bansal had previously invested $1.75 million in the startup and is now considering doubling down on his investment to support the company's growth and expansion.

Binny Bansal’s Three State Ventures Backs His New Startup OppDoor

Inc42 · 1y ago

Binny Bansal’s Three State Ventures Backs His New Startup OppDoor

Binny Bansal, co-founder of Flipkart, has invested $2 million (INR 16.5 crore) into OppDoor through investment vehicle Three State Ventures. OppDoor is a SaaS platform that assists e-commerce companies with expanding into new regions, offering services in advertising strategies and enhanced catalogues. Bansal resigned from the board of Flipkart due to a conflict of interest with OppDoor. Despite not operating in India, OppDoor serves clients in several countries. Bansal has also invested in other startups and launched B2B startup XTo10X Technologies.

After Flipkart, Binny Bansal steps down from PhonePe board

Economic Times

Economic Times · 9m ago

After Flipkart, Binny Bansal steps down from PhonePe board

Binny Bansal, co-founder of Flipkart, has stepped down from the board of PhonePe, the digital payments platform acquired by Flipkart in 2016. Bansal had left the Flipkart board in January to establish his new venture, OppDoor. Manish Sabharwal, founder of TeamLease, has now been appointed as an independent director and chair of PhonePe's audit committee. PhonePe founder Sameer Nigam expressed gratitude for Bansal's support and welcomed Sabharwal to the board. Nigam also praised Sabharwal's understanding of India's economy and his leadership in shaping education and employment policies.

South Park Commons Eyes India Entry With Binny Bansal

Inc42 · 1y ago

South Park Commons Eyes India Entry With Binny Bansal

Silicon Valley-based South Park Commons (SPC), a community of technologists and builders, is collaborating with Flipkart co-founder Binny Bansal to establish its presence in India. SPC, which aims to support entrepreneurs with early-stage ideas, is expanding to India as part of its strategy to extend its philosophy to locations with talent and ambition. SPC is also considering expanding into the UK. Bansal recently stepped down from Flipkart and has since become an active investor in startups, as well as launching his own B2B startup.

Binny Bansal resigns from Flipkart board citing conflict with new venture

Economic Times

Economic Times · 1y ago

Binny Bansal resigns from Flipkart board citing conflict with new venture

Binny Bansal, co-founder of Flipkart, has resigned from the board of directors citing a conflict of interest with his new venture. Although the specific details of his new venture remain undisclosed, this move comes as a surprise as Bansal had stepped down as CEO of Flipkart just a year ago following allegations of personal misconduct. His departure from the board signifies a further distancing from Flipkart, which was acquired by Walmart in 2018.

Flipkart Co-founder Binny Bansal exits startup, sells stake to Walmart: Reports

Money Control

Money Control · 2y ago

Flipkart Co-founder Binny Bansal exits startup, sells stake to Walmart: Reports

According to reports from Moneycontrol and ET, Binny Bansal, one of the co-founders of Flipkart, has sold his stake to US retailer Walmart and exited the e-commerce company. Sachin Bansal, the other co-founder, had previously exited in 2018 by selling his entire stake to Walmart. Earlier investors Tiger Global and Accel have also divested their stakes to Walmart, which previously held over 77% of Flipkart.

Binny Bansal eyes big game again post Flipkart exit

Economic Times

Economic Times · 1y ago

Binny Bansal eyes big game again post Flipkart exit

Binny Bansal, the co-founder of Flipkart, is increasing his investments in India after exiting the company's board earlier this year. Bansal recently invested $25 million in Curefoods, raising his stake to 18% in the Bengaluru-based firm. He also made additional investments in his startups OppDoor and a venture offering offshore legal services. Bansal is spending time with large startup boards, including PhonePe, Curefoods, and GreyOrange. He plans to allocate a significant amount of capital to his new ventures and is seeking executives to lead them.

Was extremely unhappy after exiting Flipkart as it was unplanned: Sachin Bansal

Economic Times

Economic Times · 4m ago

Was extremely unhappy after exiting Flipkart as it was unplanned: Sachin Bansal

Sachin Bansal, Flipkart cofounder, expressed his unhappiness after leaving the company in 2018, describing it as an unplanned exit. Despite being financially successful, Bansal felt discontent following the sale of his and his cofounder Binny Bansal's stakes to Walmart. This sentiment was noted by Paytm's Vijay Shekhar Sharma. After exiting Flipkart, Bansal founded Navi, a financial services company. He shared these reflections at Startup Mahakumbh 2025 in Delhi.

Flipkart mafia: Former employees own 44 start-ups, eight backed by Binny Bansal

Hindustan Times Tech

Hindustan Times Tech · 1y ago

Flipkart mafia: Former employees own 44 start-ups, eight backed by Binny Bansal

The 'Flipkart Mafia,' a group of former Flipkart employees, has established 44 start-ups, with six being unicorns valued at $25 billion collectively. A correlation exists between Flipkart’s ESOP buybacks and start-up creation, particularly in 2018 and 2019. Binny Bansal, Flipkart co-founder, has invested in eight of these ventures, with PhonePe being the highest valued at $12 billion.

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