Binny Bansal’s startup xto10x sets up office in Singapore

Share on facebook
Share on google
Share on twitter
Share on linkedin
Time to Read: 2 minutes

Flipkart cofounder Binny Bansal-led software and consulting firm Xto10X has stepped into the Southeast Asia market by setting up an office in Singapore to help startups in the region

Flipkart cofounder Binny Bansal-led software and consulting firm Xto10X has stepped into the Southeast Asia market by setting up an office in Singapore to help startups in the region.

The operations in the region will be run by Chai Jia Ji, former executive at Airbnb and marketplace Carousell. According to the company’s press release, Bansal will also be based in Singapore to support the team and will serve as an advisor to Southeast Asian startups.

Bansal founded Xto10X Technologies in 2018, along with fellow former Flipkart executive Saikiran Krishnamurthy, after his exit from the ecommerce company Flipkart, following the Walmart acquisition of May 2018. With this venture, Bansal plans to help entrepreneurs by offering tools, learning and counselling services to growth-stage startups.

Xto10X offers three services — a product suite across strategy and data science to execution; a learning platform with curated courseware, events and reference cases; and consulting and mentoring to help founders.

This move to expand its services to Southeast Asia comes after two major developments. First, Bansal is reportedly setting up a new venture capital fund of $300 Mn to $400 Mn to invest in Southeast Asian startups. According to reports, Indian startups will be the prime focus of the venture fund, but it will also be looking for opportunities to invest in startups of  Southeast Asian startups.

Bansal will be initially be the general partner (GP) and anchor investor of the fund, but will eventually take more investors on board. However, Bansal is likely to invest 10-20% of the fund’s before other investors join in. Moreover, Bansal has reportedly started getting the fund’s team together, which will likely include Flipkart’s former executive Rajneesh Baweja.

Related Article  ThoughtSpot scores $248M funding as it tilts at Salesforce, Tableau

Secondly, this month Bansal also sold  5.3 Lakh shares worth $76 Mn to Luxembourg entity FIT Holdings SARL, which is owned and operated by Walmart. With this Bansal reduced his shares in the Flipkart to 3.3%. Back in June, Bansal had sold the same number of shares for $76 Mnto SARL.

(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of

Leave a Reply


Xtechalpha Xclusive

RSS Latest Technology News

  • YouTube says exclusivity deal with Activision "further demonstrates its dedication" to livestreaming January 26, 2020
    Activision Blizzard has finalised a deal that makes YouTube its "exclusive worldwide third-party provider" for livestreaming. The "multi-year strategic relationship to power new player experiences" sees Google Cloud serve as the "preferred provider for ...
    Vikki Blake
  • Review: Houdini Sportswear's Power Air Houdi January 26, 2020
    At WIRED, we often have microplastics on our minds. But in between debating whether to carry bamboo or stainless steel utensils to reduce waste or comparing the merits of different travel mugs, we often overlook an important source of microplastic waste: ...
    Adrienne So
  • LPL suspends League of Legends matches due to Coronavirus outbreak January 26, 2020
    China's League of Legends Pro League has called off their upcoming week 2 matches and expressed safety risks following the spread of the ongoing Coronavirus outbreak. The recent outbreak of the Coronavirus, which is believed to have originated in ...
    Daniel Cleary

Follow Us

Binny Bansal’s startup xto10x sets up office in Singapore

by Minakshi Das Time to Read: 1 min
AI Tool to Reshape Treatment by Predicting Cell Behaviors
Get to know the latest updates on exponential technologies, new age industry segments with our weekly XTechalpha Xclusive newsletter straight in your mailbox.