Flipkart co-founder Binny Bansal and ex-consultant Saikiran Krishnamurthy are getting together to launch a company that will offer technology tools, learning and consulting services to growth-stage startups which are looking to scale up.
The venture called xto10x Technologies has been funded by Bansal and Krishnamurthy is still at the concept stage and the company is looking to hire a team by January next year, as it tests out its product with a clutch of startups.
“The idea is to disrupt traditional consulting firms with tech-backed solutions and tools which do not require hundreds of partners,” a person familiar with the duo’s plan 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.”
With xto10x Technologies, the duo is targeting Series B and C startups and will offer them software tools, consulting on a self serve model, and mentorship and learning.
Interestingly, the news has come just a month after Bansal stepped down abruptly from his group CEO and chairman roles at Flipkart. A probe was conducted to investigate him on charges of “personal misconduct” but Walmart, which owns 77% of Flipkart, said those charges weren’t found to be true.
Krishnamurthy had quit Ola in September after managing it for a short 11-month time period and has been working on x10x for the past few months.
Also Read: Sachin Bansal Explains Why Indian Entrepreneurs Need More Control Over Startups
Sachin Bansal who too left the company that he started along with Binny is preparing to make a comeback with a new venture. Sachin is establishing a holding company through which he will run his new businesses as well as make investments.
