Rahul Yadav back with e-governance startup; Flipkart’s Bansals play angels.
Intelligent Interfaces will get first business in two weeks, he says.
Bengaluru | Red Newswire | By VcCircle | Dec 11 2015 09:42 PM IST.
Rahul Yadav, the ousted co-founder of Housing.com, is back with his new startup and he is funded by the biggest names in the Indian internet industry—Bansals of Flipkart.
Yadav’s new startup – Intelligent Interfaces – is about helping various government departments use internet and technology tools to save cost and expedite service delivery. “We will get our first business from a government department in two weeks,” Yadav told VCCircle.
Yadav confirmed that he got seed funding from Sachin Bansal and Binny Bansal, co-founders of Flipkart. He said the company is not taking funding from any others at this point in time, dispelling rumours that founders of a few other big ecommerce companies could support Yadav in his new venture. “We do not require so much money now. We will raise more funds as and when we require it,” Yadav said.
Sachin Bansal, co-founder and CEO of Flipkart, did not respond to calls seeking his response.
Yadav, who was fired from Housing.com in early July following a series of incidents including a continued feud with investors, public spats with media and others, was quietly working on his new venture for a few months.
Yadav wrote on his Facebook wall in September:
The codename is: “Intelligent Interfaces (ii)”
Designing the next gen Interfaces. #AR #AI #HoloLense #MagicLeap#Cortana #Siri #Maths #Design #UI #UX
Elite/Hardcore gamers can directly ping me for the Product roles.
(Interns are most welcome. No business/sales/ops roles please. I’ll respond by weekend to pings)
Yadav is quite confident about getting business from various central and state departments. “We have very powerful people on our board,” said Yadav. He, however, declined to offer more details.
Flipkart Pvt. Ltd. is a holding company of flipkart overall business. It owns the back end business through which all foreign investments are being made. The firm also owns the front end business, which has a licencing agreement with the Singapore company to use technology and the flipkart brand to do business in India. The company was founded in 2011 and is based in Singapore.