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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.

Related News

Former Facebook execs’ South Park Commons raising $40 mn for India fund

VCCircle

VCCircle · 5m ago

Former Facebook execs’ South Park Commons raising $40 mn for India fund

South Park Commons (SPC), founded by former Facebook engineers Ruchi Sanghvi and Aditya Agarwal, is raising $40 million for an India-focused fund to support early-stage startups. SPC expanded into India in 2022, partnering with Flipkart co-founder Binny Bansal and appointing Prateek Mehta to lead SPC India. Founded in 2015, SPC provides support to startup founders and has invested in over 150 startups. The new fund aims to invest in pre-seed and seed-stage Indian companies.

Facebook's first female engineer to launch India VC fund via South Park Commons

VCCircle

VCCircle · 1y ago

Facebook's first female engineer to launch India VC fund via South Park Commons

Facebook's first female engineer, Ruchi Sanghvi, is set to launch a venture capital fund in India through South Park Commons (SPC). Sanghvi, along with her husband Aditya Agarwal, founded SPC as a community for tech entrepreneurs. They have now partnered with Flipkart's co-founder Binny Bansal to enter the Indian market, marking their first international expansion. The aim of their venture capital fund is to support startups and provide valuable resources to the Indian tech ecosystem.

Silicon Valley’s South Park Commons launches Bengaluru outpost in collaboration with Binny Bansal

Economic Times

Economic Times · 1y ago

Silicon Valley’s South Park Commons launches Bengaluru outpost in collaboration with Binny Bansal

South Park Commons (SPC), a community of founders and engineers, has opened its first international location in Bengaluru, India. In collaboration with Flipkart cofounder Binny Bansal, SPC aims to support Indian entrepreneurs with early-stage ideas. Founded in 2016 by Ruchi Sanghvi and Aditya Agarwal, SPC has raised funds to back founders and researchers. The expansion into India reflects the country's dynamic and promising technology entrepreneurship ecosystem. SPC differentiates itself from other incubators, as it welcomes individuals even before they have an idea or plan to start a company. The focus in India will be on early-stage AI researchers and founders.

Silicon Valley’s South Park Commons to launch India outpost with Binny Bansal

Economic Times

Economic Times · 1y ago

Silicon Valley’s South Park Commons to launch India outpost with Binny Bansal

Ruchi Sanghvi, the first woman engineer at Facebook, and Aditya Agarwal, former CTO of Dropbox, started South Park Commons (SPC) in 2016 as a learning group for engineers and researchers. It has now evolved into a platform that funds early-stage entrepreneurs. SPC is expanding to India and is in the process of launching its third fund. The duo is also working with Flipkart's co-founder Binny Bansal to bring an early-stage incubation and venture project to India. They are also considering expanding to the UK. Sanghvi and Agarwal emphasize the importance of providing support for entrepreneurs in the initial idea conceptualization stage.

Visa processing firm Atlys eyes $15-18M raise from Peak XV, others

Inshorts · 1y ago

Visa processing firm Atlys eyes $15-18M raise from Peak XV, others

Travel tech startup Atlys, which counts Andreessen Horowitz, Elevation Capital, and South Park Commons among its investors, is reportedly in talks with existing investor Peak XV Partners and others to raise $15-18 Mn in its Series B round. The startup is eyeing a valuation of nearly $70 Mn, Entrackr reported. The funding round will be led by Peak XV.

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.

Angel One chief growth officer Prabhakar Tiwari resigns

Economic Times

Economic Times · 7m ago

Angel One chief growth officer Prabhakar Tiwari resigns

Prabhakar Tiwari, the Chief Growth Officer at Angel One, has resigned from his position along with Chief Compliance Officer Pravin Bathe, who resigned a month earlier. Both executives cited personal reasons and their desire to pursue other interests. Earlier this year, Chief Business Officer Prateek Mehta also resigned and joined South Park Commons. Arief Mohamad, previously head of the fashion vertical at Flipkart, has been appointed as the Chief Business Officer at Angel One. The company is currently the third-largest stockbroker in India with 7.5 million active clients.

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.

Plaksha University launches Binny Bansal Institute for Inventing the Future

Entrackr

Entrackr · 3m ago

Plaksha University launches Binny Bansal Institute for Inventing the Future

Plaksha University, a technology university for higher education and research in India, has launched the Binny Bansal Institute for Inventing the Future (IIF). Binny Bansal, founder of Flipkart and xto10x, has given a startup funding of Rs 70 crore ($8 million) to set up IIF. The institute aims to solve real-world problems using advanced technologies like Artificial Intelligence (AI), blockchain, and robotics. IIF will focus on sectors such as healthcare, agriculture, clean energy, and environmental sustainability. It plans to turn research into practical solutions, promote AI talent in India, and encourage partnerships between universities and companies to bring ideas to the market. IIF has collaborated with the University of California, Berkeley. The partnership will enable joint research, student and faculty exchanges, and shared learning. Binny Bansal said the institute reflects his belief in using technology to improve lives. Prof. Shankar Sastry, Founding Chancellor of Plaksha and professor at UC Berkeley, said IIF is a big step in making India a leader in deep-tech innovation. Plaksha University, supported by global tech and business leaders, aims to change the way technology education and research are done in India by encouraging hands-on learning, interdisciplinary study, and innovation.

OpenAI hires former Pebble CEO Gabor Cselle for 'secret project'

Economic Times

Economic Times · 7m ago

OpenAI hires former Pebble CEO Gabor Cselle for 'secret project'

OpenAI has hired Gabor Cselle, former CEO of Pebble, to work on a secret project. Cselle has been with OpenAI since October and expressed his excitement about the talent density at the company. Pebble, a microblogging service, had raised funding from venture capitalists before shutting down. Cselle joined OpenAI after a stint at South Park Commons. OpenAI is reportedly working on its next AI model, Orion, which is expected to be significantly more powerful than previous models. However, OpenAI has stated that it currently has no plans to release Orion.

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