Binny Bansal’s Three State Ventures invests $2M in OppDoor startup
- ByStartupStory | March 11, 2024
Binny Bansal, founder of Flipkart, has invested nearly $2 million in his new venture, OppDoor, through his venture fund Three State Ventures.
According to Singapore regulatory filings, “Three State Ventures, sponsored through his personal capital, invested the money via multiple tranches over the past few months, with the latest cash infusion in February.”
OppDoor is a software services platform aimed at helping emerging online retail brands expand globally. Bansal’s investment in OppDoor signifies his commitment to the venture despite its relatively smaller size.
He resigned from Flipkart’s board in January and has been using capital from Flipkart share sales to fund his ventures. Bansal’s new venture has been in talks with former senior Flipkart executives for potential induction and has made several hires in Bengaluru.
Currently, OppDoor is offering ecommerce business-related services to Amazon’s US brands in international markets. Despite moving his base to Singapore after exiting Flipkart in 2018, Bansal remains actively involved in the Indian startup ecosystem.
He sold his remaining stake in Flipkart late last year, netting about $650 million. Bansal has made significant investments in startups like Curefoods, PhonePe, and Acko over the years.
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