The Bansals Chart Their Comeback
Flipkart co-founders Sachin Bansal and Binny Bansal are taking a look at new ventures to return to India’s startup ecosystem after each, on two separate events, exited from the e-commerce firm they created.
Sachin Bansal has registered a brand new enterprise—BAC Acquisitions Pvt. Ltd.— with a pal and former funding banker Ankit Agarwal, based on a Inc42 report citing filings with the Registrar of Corporations. Experiences had earlier surfaced that Sachin would set up a holding firm to run new companies and make enterprise investments.
The brand new enterprise is predicted to spend money on agritech and fintech sectors, based on the information report.
Binny Bansal, then again, is finalising a $25 million funding in digital insurance coverage startup Acko, based on a report in The Financial Instances which cited three folks acquainted with the matter. Acko can also be backed by Jeff Bezos’ Amazon.
The ET report stated that Acko had earlier engaged with Sachin Bansal for the same fund infusion however that deal wasn’t sealed. The supply stated that Binny would assist in scaling up Acko at a time when the startup is already rising.
The 2 Bansals, who should not associated, had each left Flipkart earlier this yr following a $16 billion takeover by retail big Walmart.
Sachin had stop only a day after the deal’s announcement in Could, saying he needed to take a while off to complete a number of private pending initiatives and brush up his coding expertise. Binny stepped down as Flipkart CEO final month after an investigation into alleged “critical private misconduct” at the same time as he denied the fees.
Of their private capacities, each have remained lively traders within the startup ecosystem. In accordance with Crunchbase, Binny has invested in 27 startups that embody names like SigTuple, CureFit and Avail Finance. Sachin has seven investments that additionally embody SigTuple, scooter startup Ather Power and information aggregator Inshorts.