Binny Bansal’s consulting startup Xto10x expands to Singapore

Software and consulting firm Xto10x, a company founded by Flipkart co-founder Binny Bansal, has set up shop in Singapore to extend its services to Southeast Asian startups. It has tapped former Airbnb and Carousell executive Chai Jia Jih to lead its operations in the region.

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Xto10x, which Bansal set up with former Flipkart Saikiran Krishnamurthy and Neeraj Aggarwal, provides technology tools and learning and consulting solutions to help startups scale up their businesses.

“After startups have found product-market fit and created serious business momentum, there is still significant work to scale into large, profitable, world-class companies,” said Krishnamurthy, who serves as Xto10x’s CEO. “There are many more Southeast Asian startups now at the scale phase and we see opportunity to help them.”

Prior to his new appointment, Chai was senior vice president for growth and strategy at online marketplace Carousell, where he will stay on as an advisor. He also helped establish Airbnb’s business in Southeast Asia as a regional managing director.

Joining Chai in leading Xto10x’s regional expansion is Maneesh Mishra, who was previously vice president of data science for ride-hailing unicorn Gojek, and ex-Carmudi CEO Pranjal Kanwar.

According to a statement, Bansal will be based in Singapore to support the team and serve as an advisor to Southeast Asian startups.

Aside from a new startup, Bansal, who left his post as Flipkart’s CEO late last year, is also reportedly planning to launch a venture capital fund with a target size of US$300 million to US$400 million to support startups in their growth stages. The fund is expected to focus primarily on startups in India, but it may also consider founders in Southeast Asia, according to sources.