The funds will be primarily utilised to ramp up – learning programme, software tools and operating capabilities – which will enable growth-stage startups to accelerate their scale-up journeys, a company statement said.
“Our experience over the past two years has shown us that founders are really looking for support to grow fast and build enduring companies. Doing deep operating work with startups and converting that experience into software tools and learning curriculum helped us in building a strong momentum, driving four-fold growth in the past year. In fact, xto10x is already a profitable company,” said Saikiran Krishnamurthy, cofounder, xto10x Technologies.
Bansal along with his former Flipkart executive Krishnamurthy launched xto10x Technologies in 2018. Currently, Bansal serves as the cofounder and executive chairman at the firm.
“At least in the foreseeable future, we plan to be an investor agnostic platform as we are still in the early stages of product development and need to undergo trial and errors for our solutions and expansion. Today, we work with all major venture capital firms hand-holding their startups,” added Krishnamurthy on the internal round in an interaction with ET.
Last year,
xto10x had acquired SaaS-based HR-tech startup, Dockabl to expand their employee experience platform.
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Till date, xto10x has worked with over 200 growth-stage startups across India and Southeast Asia.
“xto10x is the only institution that provides systematic support to founders looking to scale up from Series A/B to unicorn and beyond. We have found the xto10x offerings extremely relevant in our own journey,” said Shashank Kumar, cofounder, Razorpay, and one of the investors in xto10x.
In the learning segment, seven out of 24 companies from their 10xAcademy founders’ program are now unicorns, according to the company.
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