Rahul Yadav, the former CEO and co-founder of real estate portal Housing.com, has received funding from Sachin and Binny Bansal, founders of India's largest e-commerce company Flipkart, for his new startup Intelligent Interface.
Yadav's new startup works to enhance productivity by helping various government departments use appropriate internet and technology tools to cut down cost and accelerate service delivery.
"The startup will be an interface that will be used by government officials. We will get our first business from a government department in two weeks," Yadav said.
The company sees the possibility of very large businesses that can be created in partnerships with the government.
While Sachin Bansal confirmed the investment, the exact amount has not been disclosed.
Yadav has been surrounded with controversies since he challenged chief executives of other start-ups to distribute their share to their employee. Earlier this year he surprisingly resigned from Housing.com, joined again, and was ultimately sacked by the other co-founders.
In September this year, Paytm's Vijay Shekhar Sharma had invested an undisclosed amount in Yadav's start up, details of which were not revealed back then. It was also reported that Micromax's Rahul Sharma and Reliance Industries chief Mukesh Ambani made investment in the firm.
According to media reports, Yadav expects the first contract from a government department in the next two weeks. Yadav has been quoted as saying that he has powerful people on the board, but no names have been disclosed.
BW Reporters
The author is Senior Correspondent with BW Businessworld
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