The former Flipkart chief executive has formed a team for his new project, xto10x Technologies, according to the report, and has set up shop at a co-working space and done deals with several “leading” start-ups.
The firm is aimed at helping customers build cloud-enabled products tailored to their needs. Bansal described it as an “Amazon Web Services” for start-ups and said his long-term ambition is to help “10,000 early and mid-stage entrepreneurs.”
With a population of over 1.3 billion, India has seen rapid growth in its digital economy, with the likes of Flipkart, Snapdeal and Paytm shaking up the domestic e-commerce industry. Research by software lobbyist Nasscom and consultant PwC estimates India’s online retail market could be valued at $150 billion by 2022.
You can read the full Bloomberg report here.
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