The Economic Times in India is reporting that Sachin and Binny Bansal, co-founders of Flipkart, have invested seed funding in Rahul Yadav’s new venture called Intelligent Interfaces.
Rahul Yadav is the former CEO of Housing.com and shot to "fame" when he as removed as CEO of Mumbai-based realty site Housing following a series of controversial incidents that brought the company under bad light. Housing’s board had said that that he would no longer be an employee or be associated with the company in any way.
Yadav wrote a ‘scornful’ resignation letter on the 30th of April to board members and investors, criticising their intellectual capabilities and giving them a one week deadline to ‘help the transition’. The investors responded the next day with an acknowledgement of the resignation through the law firm Morrison & Foerster. The following day, he withdrew his resignation and apologized for his ‘unacceptable comments about the board members’.
Yadav's new startup aims to make online government processes more efficient.
Yadav was speaking in a panel discussion at Flipkart’s annual tech event Slashn and said that he does not plan to raise funding from venture capitalists this time. Sachin Bansal confirmed the investment in the startup but declined to give details about the funding.