From Etail To AI: Sachin Bansal In Talks To Raise $700 Mn – $1 Bn Startup Fund


Flipkart’s co-founder and former chief executive Sachin Bansal is considering to start with his entrepreneurial adventure again in the space of an artificial intelligence by the end of this year.

He is also planning to raise a startup fund with $700 Mn -$1 Bn corpus.

Sachin will be contributing for the 40% of the raised funds as he is set to make $1 Bn cash, according to reports.

This will include funds from the sale of his entire 5.5% stake in Flipkart as well.

Several questions were raised on the forced exit of Sachin Bansal in May 2018, post the Walmart-Flipkart deal was signed.  Walmart had acquired a 77% stake in Flipkart for $16 Bn whereas investors such as SoftBank Accel Partners have also exited from the company.

Overall the two co-founders of India’s ecommerce poster boy have remained silent in the matter to date.

Source: INC42



Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.