Binny Bansal along with Flipkart's former executive set to launch new startup 'xto10x'

A month after his unceremonious resignation from his own co-founded firm, Flipkart co-founder and ex-CEO Binny Bansal is all set to begin his second innings with a new startup.

In his second innings as an entrepreneur, Binny will team up with former Flipkart executive and Mckinsey consultant Saikiran Krishnamurthy to launch xto10x.

The startup will be a combination of SAP, Coursera and McKinsey for startups as they want to create a new-age consulting model, persons close to the development were quoted as saying to ET.

The new venture is aimed to disrupt traditional consulting firms with tech-backed solutions and tools for strategy and operation solutions. It will serve series B and C startups. Apart from offering mentoring and helping startups with scaling, it will also create and curate courseware, events reference cases and access to mentors, they added.

They have been working on the venture for the past few months and plans to hire a team from next month.

Saikiran is said to take the role of CEO in the venture whereas Binny will don the hat of Chairman.

The new venture has come after Binny resigned last month from his group CEO and chairman roles at Flipkart following allegations of sexual assault, lack of due diligence, and evidence of lapses in judgement.

However, Binny had denied all the charges against him. Binny, who has a 4.24 per cent stake in Flipkart, is still on Flipkart board.

Flipkart's second co-founder Sachin Bansal had also left Flipkart abruptly in May this year. Having cut all his ties, Sachin started up his own VC firm with the money he made through the very deal.