Flipkart founders float new venture ‘Sabin Advisors’

Sabin

Sachin Bansal and Binny Bansal, co-founders of Indian e-commerce giant Flipkart have incorporated Sabin Advisors, a new company last month for new businesses, which could include venture capital funding and insurance.

Sabin Advisors, named after the first few letters of the co-founders’ names– Sa(chin) and Bin(ny).

According to BusinessLine report, there is a possibility that the co-founders might route all their investments through this new venture and might look at other businesses over a period of time.

A filing with the registrar of companies shows that the company was incorporated on December 7 and lists out various businesses as its objective, including a foray into online ventures.

Also Read: Flipkart steps up AIforIndia to enhance user experience, to hire AI experts

Sachin Bansal has invested in seven ventures with a total funding of $26 million, while Binny Bansal has invested in 17, with a total funding of $32 million.

Sachin is an angel investor in startups including Inshorts, Ather Energy, Unacademy and the now-shut SpoonJoy. Binny has been even more prolific, investing in Inshorts, Ather Energry and Unacademy with Sachin, but also investing in fashion portal Roposo and gaming company MadRatGames, among others.

According to Sanchit Vir Gogia, Chief Analyst, Greyhound Research, the success of an India Fund will be much harder now than earlier as there have been many more misses than hits in the start-up community.

Last year, Flipkart got a massive funding of $3 billion in two quick successions. Henceforth, the founders are looking at the other avenues for themselves via Sabin Advisors through which they aim to offer investment as well as advisory services outside the e-commerce platform.

The further details of Sabin Advisors are yet to be revealed. But this could be a significant step for the co-founders who have a long experience of investment in startups.

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here