Binny Bansal, co-founder of Flipkart, is venturing into the AI sector with an AI-as-a-service start-up designed to serve a global clientele. Reportedly, he aims to emulate the business model of established outsourcing providers like Tata Consultancy Services and Infosys, offering AI expertise, products, and services to corporate clients. After selling Flipkart to Walmart, Bansal has assembled a team of 15 AI experts for his new venture. The start-up’s primary operations will be in Bengaluru, with its headquarters in Singapore, and future plans for expansion into the United States. According to undisclosed sources, his vision is to provide AI expertise to a wide variety of industries.
During his time at Flipkart, Bansal took on the role of CEO in 2016, diversifying the company’s product offerings into electronics, fashion, and mobiles. Launching Myntra in 2014 further strengthened its position in the fashion e-commerce sector. Flipkart faced competition from global e-commerce giants and regulatory challenges in India, culminating in Walmart’s majority stake acquisition in 2018.
Since departing from Flipkart, Bansal has increased his investments, including significant contributions to start-ups like PhonePe and Curefoods. His recent investment of US $ 25-30 million in Curefoods, led by his former associate Ankit Nagori, demonstrates his focus on cloud kitchens and dining establishments.
