Binny Bansal
Co-Founder & Executive Chairman, xto10x TechnologiesBirth Details1983
NationalityIndian
LeagueEntrepreneur
EducationComputer Science Engineering, IIT Delhi
Net Worth$1.1 billion (as of May 22, 2020)
Binny Bansal's Assets
Binny Bansal’s Journey so far ...
Before you go ...
- Stake in Flipkart
Binny Bansal’s Journey so far ...
- Binny Bansal, one of the poster boys of the Indian start-up industry, is a computer science engineering graduate from the Indian Institute of Technology in Delhi
- After passing out from IIT Delhi, he joined Sarnoff Corporation where he worked for one-and-a-half years. He later joined Amazon where he met Sachin Bansal
- Binny, along with Sachin Bansal, founded Flipkart in 2007 with Rs 4 lakh and operated out of a flat. Initially, Flipkart was an online bookselling platform and later the duo scaled the start-up into one of India's leading e-commerce marketplace, selling everything from toys to television. He was able to attract investment from noted venture capital firms like Tiger Global Management, Softbank, Naspers, Qatar Investment Authority into Flipkart
- The boy from Chandigarh helmed various roles at Flipkart, including that of Chief Operating Officer, Chief Executive Officer, Group CEO, and Chairman
- Under his leadership, Walmart acquired Flipkart in the world's largest e-commerce deal valued at $16 billion
- Within six months of Walmart's acquisition, he quit Flipkart over allegations of personal misconduct. He said that it did bring to light lapses in judgement, particularly a lack of transparency. As of July 2019, Binny holds a 3.52% stake in Flipkart
- Following his exit from Flipkart, he went on to set up xto10x Technologies which helps start-ups in their journey to transform initial business momentum into at-scale impact and world-class organisations
- An angel investor, Bansal has invested intensively in India's startup ecosystem. He has invested in over 30 startups and also mentors them
Before you go ...
- Bansal was rejected by Google twice and was bored with his job at Amazon. He says it was a 12-to-3 job and not a 9-to-5 one
- Binny and Sachin Bansal, who are not related, were in the same batch (2005) at IIT Delhi but they were not friends at that time
- Sachin Bansal referred Binny's name to Amazon for which he got a referral bonus, but had to return the amount because Binny left the company before completing a year
Last Updated: 15/02/2021
Binny Bansal News
- Binny Bansal-backed RISA Labs raises $11.1 millionThe startup said it will use the funds to expand the rollout of its AI platform across cancer clinics, health systems, specialty pharmacies and infusion networks in the US, with the aim of speeding up access to cancer treatment.
- BrowserStack's $125 million buyback; crypto rules tightenHappy Monday! Kicking off the new year on a high, BrowserStack is facilitating a big share buyback for employees and early investors. This and more in today’s ETtech Morning Dispatch.
- ITAT rejects Binny Bansal's 'non-resident' status claimThe Bengaluru bench of the Income Tax Appellate Tribunal (ITAT) has rejected Flipkart co-founder Binny Bansal's claim of non-resident status for assessment year 2020-21, thereby denying him the benefit of the India-Singapore Double Taxation Avoidance Agreement (DTAA).
- Curefoods gets Sebi nod for Rs 800-crore IPOCurefoods has secured approval from Sebi for its initial public offering. The company plans to raise Rs 800 crore through the IPO. Existing investors will also sell a portion of their stake. Funds will be used for expansion, including new kitchens and acquiring brands. Curefoods operates over 500 cloud kitchens across India.
- Curefoods raises Rs 160 crore from Binny Bansal’s 3State Ventures in pre-IPO placementCloud kitchen startup Curefoods has successfully raised ₹160 crore ($18 million) in a pre-IPO placement from Flipkart cofounder Binny Bansal's 3State Ventures. This investment values the Bengaluru-based company at ₹4,000 crore ($450 million) as it prepares for an ₹800 crore initial public offering.
- Curefoods pre-IPO dough; RBI's new mandateCurefoods secures pre-IPO funding from Binny Bansal's 3State Ventures. This and more in today's ETtech Top 5.
- Curefoods raises Rs 160 cr in pre-IPO placement from Binny Bansal’s 3State VenturesBengaluru-based Curefoods has raised Rs 160 crore ($18 million) in a pre-IPO round from Binny Bansal’s investment fund 3State Ventures. The cloud kitchen startup filed its draft red herring prospectus (DRHP) to raise Rs 800 crore through the IPO, which also comprises an offer for sale (OFS) component of 4.08 crore shares.
- Value retailer SuperK raises Rs 100 crore co-led by Binny Bansal, Mithun Sacheti; cricketer Shubman Gill joins as investorSuperK, an Andhra Pradesh-based budget retail chain, has secured Rs 100 crore in a Series B funding round. The investment, co-led by Binny Bansal’s 3STATE Ventures and Mithun Sacheti, also saw participation from cricketer Shubman Gill.
- Binny Bansal backs ShopOS with $20 million to build AI engine for global online brandsThe majority of the funding will be used to hire talent across product, engineering, design and growth roles and the rest will go towards product building, ShopOS cofounder Ajay PV said.
- Ather IPO: Flipkart founders’ early bet pays off as investors double gains despite muted debutAther Energy shares made a muted debut on the Indian exchanges on Tuesday. Ather Energy launched its maiden public offer on April 28 and April 30 to raise Rs 2,981 crore. The Tiger Global backed electric scooter maker raised Rs 1,340 crore from anchor investors on April 26 before the IPO opened.
- Healthcare startup Risa Labs raises $3.5 million from Binny Bansal, othersThe seed funding round also saw participation from Oncology Ventures, General Catalyst, z21 Ventures, Odd Bird VC, and angel investor Ashish Gupta. The startup plans to use the capital to deploy its AI-based automation platform across 100 cancer centers in the US over the next two years.
- US turbulence hits IT stocks; Narayana Murthy’s AI warningRecession fears in the US are impacting Indian IT stocks, which have significantly slumped from their peaks. This and more in today’s ETtech Top 5.
- Pernia’s Pop-Up Shop’s parent firm raises $40 million from SageOne fund, othersPurple Style Labs was valued at nearly Rs 3,000 crore during its last round of funding in 2023, when it raised $8 million.
- Flipkart cofounder Binny Bansal launches new startup OpptraOpptra is a tech-led company that houses franchising businesses to help brands scale in the Asian markets across categories, including fashion and lifestyle, home and kitchen products and electronics.
- Former Ola exec Pranay Jivrajka’s sexual wellness startup Allo raises Rs 16 crore from Zerodha’s Rainmatter, othersSexual wellness startup Allo Health will use the capital to expand its clinic network, strengthen technological capabilities, and enhance patient engagement.
- Binny Bansal-backed PlanetSpark plans to go public in two yearsThe Gurugram-based firm is looking to file the DRHP with Sebi in Q4 of 2026. It has recently reached cash flow break-even.
- SpotDraft raises $54 million from Vertex Growth, Trident Partners, othersExisting investors, such as Flipkart cofounder Binny Bansal's Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest, also participated in this round. SpotDraft provides an AI-driven contract automation platform aimed at helping in-house legal teams manage different aspects of the contracting process.
- View: Returnee entrepreneurs are reshaping India’s future, but barriers must be removed to reap rewardsBy failing to retain the best and brightest - especially from India - the US has triggered a reverse brain drain that is transforming India into a global innovation powerhouse, while eroding America's leadership in innovation and entrepreneurship. This transformation is exemplified by Indian entrepreneurs who returned from abroad to build billion-dollar companies. Sachin and Binny Bansal, former Amazon employees, co-founded Flipkart. Bhavish Aggarwal, after working at Microsoft, created Ola, which has since expanded into EVs, AI and RE.
- Binny Bansal exits PhonePe board; Blackbuck's mixed market debutBinny Bansal has stepped down from PhonePe's board, following his earlier departure from Flipkart. This and more in today’s ETtech Top 5.
- After Flipkart, Binny Bansal steps down from PhonePe boardBansal played a pivotal role in Flipkart's acquisition of PhonePe in 2016 and has worked closely with PhonePe founder Sameer Nigam since then, including after the payments firm’s separation from Flipkart.
- Flipkart Fashion head set to join Angel One as CBOMohamad will be the replacement for Prateek Mehta, who was the chief business officer at Angel One till April 2024. Mehta, one of the cofounders at mutual fund distribution startup Scripbox has now assumed the role of a partner at South Park Commons, the Silicon Valley-based venture investor.
- Silicon Valley’s South Park Commons launches Bengaluru outpost in collaboration with Binny BansalSilicon Valley-based early-stage venture fund South Park Commons made its India entry with an outpost in Bengaluru. This is its first international location outside of the US. The fund was launched in 2016 as a collective of engineers, founders and researchers by husband-wife duo of Ruchi Sanghvi and Aditya Agarwal.
- CaratLane’s Mithun Sacheti, Binny Bansal back Xeed as Indian founders turn big local sponsors of fundsIn India, founders like Sacheti and Bansal are funding domestic funds like Xeed Ventures. The Rs 600 crore fund, with Premji Invest's backing, invests in startups like Charcoal.inc and Kredit.pe, led by Sailesh Tulshan.
- This 19-year-old girl is world's youngest billionaire: Here is all about college student Livia VoigtA 19-year-old Brazilian student, Livia Voigt, claims the title of the world's youngest billionaire, surpassing Italian teen Clemente Del Vecchio. Voigt, heiress to a major electrical motors manufacturer, holds a net worth of $1.1 billion. Meanwhile, Del Vecchio, with assets totaling $4.8 billion, inherits a significant stake in his father's eyeglasses company. India's youngest billionaires include Zerodha and Flipkart founders.
- Whale tank: The upscale societies where uber-rich tech and startup czars stay connected and network with one anotherIn Bengaluru, houses in the Billionaires' Street (Koramangala), Epsilon Villas or Adarsh Palm Retreat (APR) are owned by the likes of Sachin and Binny Bansal, Flipkart cofounders, and its CEO Kalyan Krishnamurthy along with a few Infosys co-founders and the Raveendrans. The owners of several new-age firms such as Unacademy's Gaurav Munjal, PhonePe's Sameer Nigam, Meesho's Vidit Aatrey, the Zetwerk founders dot the palm tree and Mercedes-lined APR. 'India's CTO' Nandan Nilekani, Wipro owners - the Premjis, and Rahul Dravid also own homes in Koramangala, where property rates have already built a formidable moat of exclusivity.
- Silicon Valley’s SPC plans India outpost; Holi spike for quick-commerceHappy Tuesday! San Francisco-based South Park Commons is working with Flipkart’s cofounder Binny Bansal on its India expansion. Details on this and more in today's ETtech Morning Dispatch.
- Silicon Valley’s South Park Commons set to open India outpost with Flipkart’s Binny BansalRuchi Sanghvi and Aditya Agarwal, through South Park Commons (SPC), aim to support entrepreneurs globally, with a focus on India. Their unique approach involves nurturing ideas even before company formation.
- Binny Bansal raises bets on investments; 9% avg salary hike for IT industryHappy Monday! Flipkart cofounder Binny Bansal is doubling down on his investments in new ventures, including his own startup OppDoor. This and more in today’s ETtech Morning Dispatch.
- Binny Bansal eyes big game again post Flipkart exitFlipkart cofounder Binny Bansal exited the Flipkart board in January, but he’s been busy making investments and giving shape to his new startup as well as portfolio companies
- Flipkart valuation declines by over Rs 41,000 crore in two yearsThe valuation of the ecommerce firm declined to $35 billion as of January 31, 2024, from $40 billion in the financial year ended on January 31, 2022, as per Walmart's change in equity structure in Flipkart.
- Byju’s empties offices; Made-in-India AI modelsCash-strapped edtech firm Byju’s is vacating multiple offices and tuition centres countrywide as part of a cost-cutting drive. This and more in today’s ETtech Top 5.
- Binny Bansal’s Three State Ventures funds his new startup OppDoorThree State Ventures is the investment vehicle of Binny Bansal, which is sponsored through his personal capital. The filings reveal the investment was made in stages over the past few months, with the most recent injection occurring in February.
- Binny Bansal resigns from Flipkart board citing conflict with new ventureBinny Bansal, the cofounder of Flipkart, has officially resigned from the board of the ecommerce company. Bansal recently launched his own venture called OppDoor, a software services platform for emerging online retail brands. He remains on the board of PhonePe, an ecommerce company that has separated from Flipkart.
- Flipkart close to profitability: CEO Kalyan Krishnamurthy tells staffWhile Flipkart has been working to reduce its costs for the past two years, this is the first time Krishnamurthy has spoken publicly to employees about profitability.
- How fintechs got their fingers in every pie; and other top tech, startup stories this weekOn Wednesday, ET wrote about how fintechs were adding more than 42% of the new investors in mutual funds every month. And this is not unique. Be it wealth management, payments or credit, fintechs are playing an important role in expanding the market and driving adoption everywhere.
- Cloud kitchen startup Curefoods reports fourfold jump in FY23 revenue, loss widensThe startup that runs brands like EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani and Frozen Bottle posts a loss of Rs 342 crore on operating revenue of Rs 382 crore
- Tata Pay bags payment aggregator licence; Binny Bansal’s new startup OppDoorHappy 2024! Welcome to the first edition of ETtech’s Top 5 in the new year. Tata group’s digital payments business, Tata Payments, has secured a payment aggregator licence from the Reserve Bank of India (RBI). This and more in today’s edition of our daily evening newsletter.
- Flipkart cofounder Binny Bansal launches OppDoor, an ecommerce startup focussed on online brandsFor OppDoor, Bansal, who exited Flipkart fully last year by selling his remaining stake to Walmart, has onboarded former Flipkart executives for the venture, people aware of the matter said.
- Flipkart’s $1 billion fundraise; Zomato offers to acquire ShiprocketEcommerce giant Flipkart is in the middle of closing a $1 billion funding round in which Walmart has committed $600 million. This and more in today’s ETtech Top 5.
- Mithun Sacheti joins Singularity Growth; Agilitas raises Rs 100 crore from NexusMithun Sacheti, who scored a Rs 4,621-crore exit from omnichannel jewellery retailer CaratLane to Titan in August, has joined Singularity Growth as a general partner. This and more in today's ETtech Top 5.
- Bengaluru biggest hub for most valued companies started by self-made entrepreneurs: ReportA majority 129 such industry leaders are from the Karnataka capital, which is ahead of Mumbai (78), and Gurugram and New Delhi (49), as per a report by Hurun India.
- Travel fintech Scapia raises $23 million in round led by Elevation Capital, Binny Bansal’s Three State Ventures, othersThe new capital will be used to double down on the company’s growth, expand its customer base, onboard more banking partners, and strengthen its product suite, Goteti said.
- Why Flipkart founder Binny Bansal is betting on rising BharatBansal is launching an AI-as-a-service startup of his own that will target global customers, Bloomberg has reported based on information from sources. Bansal wants to offer AI talent, products and services to corporate customers, emulating the business model of outsourcing providers like Tata Consultancy Services Ltd. and Infosys Ltd. But unlike these tech giants, Bansal wants to tap small towns.
- Billionaire Flipkart founder Binny Bansal ready to launch stealth AI startupThe startup’s main operations will be in Bengaluru, and it’s headquartered in Singapore, where it’s in stealth mode for now and will launch its offerings within months, the people said. It also plans to expand to the US, one of the people said.
- Offshore egaming apps try no-GST ploy to woo users; Binny Bansal’s Curefoods pushOffshore entities of Indian real money gaming apps are trying to lure customers with social media ads, promising their bets won’t be taxed under the 28% slab of the Goods and Services tax (GST). This and more in today’s ETtech Morning Dispatch.
- Flipkart founder Binny Bansal may invest $25-30 million more in Ankit Nagori’s CurefoodsBansal, who made a complete exit from Flipkart in August by selling his remaining shares in the ecommerce firm he cofounded with Sachin Bansal in 2007, has accelerated his personal investments, writing significantly large cheques in startups such as PhonePe and Curefoods.
- "Visit to Pakistan purely for Cricket": BCCI VP Rajeev ShuklaThe President of the Board of Control for Cricket in India (BCCI), Roger Binny, and Vice-President Rajeev Shukla have arrived in Pakistan for the Asia Cup 2023. They are attending the event after an invitation from the Pakistan Cricket Board (PCB). Binny and Shukla clarified that their visit is purely for cricket and not political reasons. The tournament is being held in Pakistan and Sri Lanka from August 30 to September 17. The Indian team did not tour Pakistan for the tournament, and future tours will be decided based on government advice.
- Walmart spent $3.5 billion to buy Flipkart shares from Tiger Global, Accel, Binny Bansal, others: FilingTiger Global and Accel Partners held about 5% collectively in the Bengaluru-based etailer. Tiger registered a $3.5-billion in profits on its Flipkart investment, as per a communication sent by the New York-based fund to its limited partners (sponsors in funds) on June 28. The retailer also bought the residual stake of Flipkart cofounder Binny Bansal along with other minority shareholders.
- Piyush Goyal to meet ecommerce players; Binny Bansal cashes out of FlipkartExecutives from different ecommerce companies are likely to meet commerce and industry minister Piyush Goyal to deliberate upon the national ecommerce policy. This comes as the government is trying to understand the business models of online groceries and quick commerce platforms. This and more in today’s ETtech Morning Dispatch.
- Binny Bansal cashes out of Flipkart, Walmart stake hits nearly 80%; Dealshare CEO steps downSachin Bansal cashed out of Flipkart when the Americans moved in five years ago. But his cofounder Binny Bansal had held on to his stake. Now, 16 years after starting the ecommerce company, Binny, too, has sold all his Flipkart shares to the US retail giant Walmart.
- Binny Bansal checks out from Flipkart; Walmart stake in ecommerce company hits 80%Bansal’s exit marks the end of the founding entrepreneur’s association with one of the most storied Indian consumer internet startups over the past decade.
- Anil Goteti’s Scapia raises $9 million in seed capital from Matrix, Tanglin, Binny Bansal's fundScapia, a startup founded by Anil Goteti, a former senior executive at Flipkart, has raised $9 million (around Rs 73 crore) in its first round of funding, led by Matrix Partners India along with participation from Tanglin Venture Partners and Binny Bansal’s Three State Ventures.
- Ex-Flipkart senior executive Goteti starts up again with travel fintech ScapiaThe app, aimed at those bitten by the travel bug, enables users to earn points that can be redeemed with Scapia coins for travel and hotel stays.
- Scoop: Tiger Global’s big bet on IPL; Binny Bansal eyes stake in volleyball team Bengaluru TorpedoesHappy Monday. Global funds and individual investors are all lining up funds for professional sports clubs, a new and emerging trend that we are capturing through two important stories in today's packed and rather sporty edition of ETtech's Morning Dispatch.
- Flipkart founder Binny Bansal eyes stake in Prime Volleyball Bengaluru teamPVL is an Indian Premier League (IPL)-like tournament with about eight teams based out of Bengaluru, Mumbai, Ahmedabad and others.
- ETtech Deals Digest: Indian startups raised $491 million this weekAccording to Tracxn data, about $400 million was pumped into late-stage startups, while early-stage startups picked up $38 million.
- Byju’s lenders seek $200 million loan prepayment; government notifies online gaming rulesEdtech major Byju's lenders have sought up to $200 million in prepayment along with a higher interest rate to restructure its $1.2 billion term loan B (TLB).
- Binny Bansal’s Three State Ventures leads Rs 300 crore funding in CurefoodsBansal’s Three State Ventures has invested Rs 240 crore in this round along with existing investors IronPillar, Chiratae Ventures, ASK Finance and Winter Capital.
- AM Scoop: Binny Bansal eyes $100 -150 million stake in PhonePe; draft Digital India Bill to be ready by JulyIt’s Friday and we are breaking a big story as we roll into the weekend. Flipkart cofounder Binny Bansal is eyeing an over $100 million stake in online payments major PhonePe. The deal is in the works, per sources.
- Scoop: Flipkart cofounder Binny Bansal looks to recharge PhonePe with $100-150 million investmentPhonePe deal to be among largest individual investments in a new-age firm; Bansal also finalising $25-30 million funding in Curefoods.
- xto10x rolls out moonlighting policy for employeesThe company said employees are required to disclose their terms of engagement in the 'spirit of transparency' but there are no approvals required.
- Former Myntra CEO’s startup Virgio raises $37 million in fundingCatering to Gen Z and late millennial audience, fashion startup Virgio is building a fashion tech platform that will allow designers to access consumer preferences in real time.
- CSR-tech platform Goodera raises $10 million in funding from Zoom Ventures, Binny Bansal, othersFounded in 2014, Goodera initially built a platform for Indian corporates to manage corporate social responsibility (CSR) investments and assess their social impact.
- Tracxn Technologies garners Rs 139 crore from anchor investorsIt has decided to allocate a total of 1.74 crore equity shares to anchor investors at Rs 80 apiece, aggregating the transaction size to Rs 139.22 crore, according to a circular uploaded on BSE website.
- Binny Bansal's xto10x announces key appointmentsxto10x helps startups scale by engaging with them across ten critical business aspects, from OKRs and customer experience to people practices.
- India’s WTO stand worries Big Tech; US foray for InMobi’s GlanceIndia is set to firmly oppose any further extension of a moratorium on customs duty for ‘electronic transmissions’ at the WTO’s 12th ministerial conference, which kicked off on Sunday.
- VideoVerse rakes in $46.8 million from A91 Partners, Alpha Wave and othersThe company said it planned to use the funds to strengthen its teams in India and abroad, while building new products to expand to more global markets.
- SaaS startup Increff raises $12 million led by TVS Capital FundsThe capital raised will also be invested in adding visionary products, and services, to Increff's portfolio for supply chain optimization, the statement said.
- Binny Bansal leads $25 million funding round in his venture xto10x TechnologiesThe fundraise also saw participation from 28 founders and executives from across India and Southeast Asia.
- Binny Bansal’s Flipkart stock sale; Uber’s Rs 2 crore job offer at IITsBinny Bansal, who cofounded Flipkart along with Sachin Bansal, has scooped up a good sum by selling a part of his stake in the company. The remaining stock can result in further wealth creation at the time of Flipkart IPO.
- Binny Bansal sold part stake in Flipkart in July funding roundBinny Bansal executed a secondary shale sale worth more than $200 million to Tencent Holdings in Flipkart’s latest funding round that pegged the etailer’s valuation at $37.6 billion.
- Mindhouse gets $6-million seed funding from Binny Bansal, othersFounded in 2019 by Pooja Khanna and Pankaj Chaddah, Blacktail Mindhouse started with a focus on mental wellness but subsequently pivoted to a broader domain of curative wellness.
- Curefoods raises $13 million funding from Iron Pillar, Binny Bansal, othersThe fresh influx of funds will be used to acquire many more digital food brands across geographies.
- Flipkart could face huge fine; Jupiter raises $45MFlipkart, Binny Bansal and Sachin Bansal, as well as Tiger Global may get fined Rs 10,000 crore. Neobank Jupiter has raised $45 million from Brazil’s Nubank. Swiggy has tied up with Reliance BP Mobility for building an EV ecosystem.
- ED sends notice to Flipkart and its founders, asks why they shouldn't face $1.35 billion fineIndia's brick-and-mortar retailers say Amazon and Flipkart favour select sellers on their platforms and use complex business structures to bypass the foreign investment laws, hurting smaller players. The companies deny any wrongdoing.
- Ather Energy in expansion mode; aims to ramp up production, drive in new products"We have already committed Rs 130 crore to expand the manufacturing facility. Over the next 4-5 years we are looking at roughly around Rs 650 crore total investment at the plant," Ather Energy co-founder and chief executive Tarun Mehta told in an interaction.
- ETtech Deals Digest: Classplus, CommerceIQ raise funds this weekIndian startups bagged smaller rounds this week compared to the previous one
- India Quotient gets $64 million from domestic investors for first close of 4th fundTop entrepreneurs like Flipkart cofounder Binny Bansal, Paytm’s founder Vijay Shekhar Sharma and Makemytrip cofounder Deep Kalra are among the fund’s investors
- Companies line up affordable electric bikes post FAME II subsidy hikeThis comes in the backdrop of the government’s decision to increase subsidy on electric two-wheelers by 50% to ₹15,000 per kWh under the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME II) scheme. The scheme came into effect in 2019 to help hasten the transition to electric vehicles to curb air pollution and reduce India’s dependence on oil imports.
- Binny Bansal’s xto10x acquires Dockabl to expand employee experience platformThe acquisition of HR tech startup Dockabl strengthens SaaS consultancy xto10x’s product suite, which includes 10xGoals and 10xPeople, according to a statement.
- Flipkart partially spins off PhonePe, Binny Bansal to join board of fintech companyFlipkart co-founder Binny Bansal will join PhonePe's board of directors, along with the fintech company's co-founders Sameer Nigam and Rahul Chari.
- BharatAgri raises pre-series A round from Binny Bansal backed 021 Capital, India QuotientBharatAgri offers paid subscriptions to farmers for personalized consultancy and an exclusive access to their premium platform.
- Tiger Global moves High Court seeking stay against Flipkart-Walmart deal tax rulingAccording to people familiar with the matter, Tiger Global International IV Holdings has filed an appeal in the Delhi High Court where it has sought an injunction against a Mumbai Authority of Advance Rulings' order issued in March this year.
- Walmart's Flipkart eyes overseas listing as early as 2021: Sources"Flipkart is incorporated in Singapore, but listing in the United States, where parent Walmart is headquartered, could give it access to a deeper pool of funds," one of the sources said.
- Rupeek gets $60 million led by GGV, Binny Bansal and BertelsmannThe company has partnered banks such as ICICI Bank, Karur Vysya Bank and Federal Bank to provide loans where customers can get their gold valued at home and receive the loan amount directly into their bank accounts.
- Flipkart co-founder, Binny Bansal, bets big on gold loan startup RupeekRupeek, which dispatches appraisers to prospective borrowers’ doorsteps to assess and pick up jewelry, is finding favor with Indians ashamed of being seen pawning family heirlooms.
- After Bengaluru, Chennai Ather Energy wants to set shop pan-IndiaThe Bengaluru-based company wants to set shop across key cities like Hyderabad, Mumbai, New Delhi, and Pune “amongst other Tier-1 cities”, it said in a statement.
- Binny Bansal puts $20m more in insurance company AckoWith the fresh infusion of capital, Bansal’s total investment in the new-age insurance firm will go up to $45 million, making it his largest personal bet on an Indian startup.
- Silicon Valley-based AngelList launches angel fund in IndiaAngelList will manage the legal and regulatory aspects of raising capital and investing it, while the byte-sized funds will be able to use its technology platform to manage their investments.
- VC investors make a beeline to SingaporeIndia continues to be the core focus area for most of these fund managers, but they do not want to lose out on opportunities in SE Asia, particularly in markets such as Indonesia and the broader Asean region.
- Flipkart unit’s losses rise 40% to Rs 1,624 croreThe unit saw operating revenues increase by 51% to Rs 4,234 crore during the year as compared to FY18, according to filings obtained from the corporate affairs ministry.
- Mobikon raises US$ 12.5 mln Series B round led by Binny BansalMobikon has been testing their new platform for over a quarter, demonstrating good results on business enablement.
- IIT-Delhi targets Rs 200 cr at fund launchIIT Delhi sets its sight on a Rs 200-crore endowment fund from its glorious genus of alumni including founders and co-founders of various companies namely Flipkart, Zomato, PolicyBazaar et al. Pledges of more than Rs 125 crore are already in place.
- Unusual Insurance: How startups are changing the insurance gameA number of tech startups are selling micro insurance covers — for broken spectacles and a missed flight.
- Walmart plans to spin off PhonePe from FlipkartThe proposed demerger will coincide with PhonePe's ongoing fund raising plan of about a billion dollar through primary and secondary sale of shares.
- Demand for smaller satellites sends Indian startups into orbitThere are now 15 to 20 startups in space technologies sector compared to just a handful a few years ago.
- It’s a starry Series A round for TerraviewIt uses advanced image processing, machine learning, AI and augmented reality, in the process assisting vineyards to get a realtime pulse of their land and produce, Terraview said on Friday.
- Kalyan Krishnamurthy, Binny Bansal and others put in $815k into image processing startup TerraviewTerraview claims to be the world’s first image processing startup focused on vineyards
- IIT-Delhi's distinguished alumni award for Flipkart co-founder Binny BansalIIT has also recognised two alumni for significant efforts and contribution made towards the development and progress of the institute.
- Binny Bansal to set up $400 million VC fundThe fund will primarily be focused on startups in India, but will also look at backing entrepreneurs in Southeast Asia.
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