20 Indian Startups That Shut Down

It’s the age of insane confidence and risk-taking tendencies. And by that, I mean delving into the field of business. Referred to as startups in the premature stage. Everyone wants to found’ a startup today. Unfortunately, not everyone is successful. Here is a list of twenty Indian startups that shut down, and the reasons behind their failure.

Even unique startups in India, having super awesome business model with a suffice funding failed in 2020. But why is it happening? So, today we are going to check out the list of startups, having million dollar ideas that failed. Thus one can take inspiration from these past examples before heading towards posterity. Below is given the list of Indian Startups that shut down in 2020.

Indian Startups That Shut Down

BABYBERRY

Failed Indian Startups
Babyberry 
Startup Name Babyberry
Headquarter Bengaluru
Founders Bala Venkatachalam, Subhashini Subramaniam, Dev Vig
Launch 2014

Babyberry is a parenting app and forum dedicated to helping new parents with the care and development of their newborn babies in all aspects, such as physical, mental, and emotional. The founders shut down citing that they would reopen after they had solved the technical glitches as reported by customers. Around one million was invested.

COINSECURE

Indian Failed Startups
Coinsecure
Startup Name Coinsecure
Headquarter Bangalore
Founder Mohit Kalra
Launch 2014

An online bitcoin exchange platform in India, it was one of the fastest and largest. They aimed to make their company by building a reputation for integrity and educating Indians about blockchain and bitcoin. Unfortunately, a hack in April 2018 led to the theft of BTC 438 amounting to USD 3.3 million. Bankruptcy looms in the background unless the company recovers the money.

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CONTENTMART

Failed Indian Startups
Contentmart
Startup Name Contentmart
Headquarter Gurgaon
Founder Anton Rublevskyy
Launch 2015

Contentmart was founded to provide a platform for content writers to put their skills to use. The nature of jobs was not restricted to blogging; any content related job was put up on the platform. They extinguished revenues ( which is the third reason behind the failure of startups) and also lacked a business model, which led to their shutting down in August 2018.

EBAY

Failed Indian Startups
Ebay
Startup Name Ebay
Headquarter San Jose, California
Founder Pierre Omidyar
Launch 2005

Ebay is a popular online e-commerce platform that connects buyers and sellers. Their auction business model allows buyers to place bids. Although popular in the US, they faced heavy competition from Amazon and Flipkart. Also, the auction model wasn’t a welcome one in India. This led to their acquisition by Flipkart in 2018.

Flipkart Online Shopping - Latest News, Business model, Subsidiaries
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. Don’t you think online buying and selling has become an essential part of our lives? Youth and adults rely on the internet to buy stuff at affordable prices with amazing return…

EZYTRUK

Failed Indian Startups
Ezytruk
Startup Name Ezytruk
Headquarter Bengaluru
Founders Srikanth M, Narsimha BS
Launch 2015

A truck and logistics platform, it aimed to connect manufacturers and transportation services, comparing service rates and charges as possible. The seed funding round raised almost one crore, but as the founders were unable to raise funds in subsequent rounds, thereby being incapable of scaling, leading to their shutdown in 2018.

HOLACHEF

Indian Failed Startups
Holachef
Startup Name Holachef
Headquarter Mumbai
Founders Anil Gelra, Gaurav Srivastava, Saurabh Saxena
Launch 2015

Holachef was a platform connecting chefs and customers in the city. According to menu specials, the company oversaw the preparation, packaging, and delivery of food. The arrival of Swiggy, Zomato, and FoodPanda led to a loss of interest from the investors’ side and a subsequent cash crunch.

JUSTBUYLIVE

Failed Indian Startups
Justbuylive
Startup Name Holachef
Headquarter Mumbai
Founders Bharat Balachandran, Sahil Saini
Launch 2015

JustBuyLive was founded with the aim of connecting retailers directly with brands. The retailers owned small and medium enterprises. The company even offered working capital to the retailers to get started. Even with massive funding of 700 crores, their faulty business model and negative cash flow contributed to their failure.

MONKEYBOX

Failed Indian Startups
Monkeybox
Startup Name MonkeyBox
Headquarter Bengaluru
Founders Sanjay Rao, Sandeep Kannambadi
Launch 2015

MonkeyBox was a lunch delivery service that provided vegetarian meals to school students. Their customer lists boast of nearly eighty-five schools and over 1500 students. Crossing two thousand subscribers, acquiring other food businesses were milestones. The reason for the shutdown is unclear, although the company cited ‘ being unable to achieve targets’ as the reason. They are currently working on strategy and are hoping to resume services in the future.

MR.NEEDS

Failed Indian Startups
MrNeeds Founders
Startup Name Mr.Needs
Headquarter Noida
Founders Hitashi Garg, Ravi Wadhwa, Ravi Verma, Yogesh Garg
Launch 2016

Mr.Needs is a grocery delivery service. It works on an online subscription model. It delivered around thirty-six thousand orders monthly. A founder declared that their delivery charges were at least half comparatively. Again, the reason for failure is unclear, but fierce competition in the field from BigBasket and others may have been the reason for their shutting down.

OFO

Failed Indian Startups
OFO Logo
Startup Name OFO
Headquarter Bengaluru
Founder Dai Wei
Launch 2017

OFO is a China-based bike rental company backed by the Alibaba group which launched its service in India. Despite the availability of huge market potential in India, the company withdrew its services in 2018. The reason given was that the growth rate of the company did not match that of other countries, and hence resources could be better spent elsewhere.

SHOTANG

Failed Indian Startups
Shotang Logo
Startup Name Shotang
Headquarter Bengaluru
Founders Anter Wirk, Anir Basu Roy
Launch 2013

Shotang had a middlemen business model. It connected manufacturers, retailers, and distributors. As middlemen, commissions were its revenue. Unfortunately, fierce competition from Flipkart and amazon forced the company to shut down.

Flipkart Online Shopping - Latest News, Business model, Subsidiaries
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. Don’t you think online buying and selling has become an essential part of our lives? Youth and adults rely on the internet to buy stuff at affordable prices with amazing return…

STAYZILLA

Failed Indian Startups
Stayzilla Logo
Startup Name Stayzilla
Headquarter Bengaluru
Founders Yogendra Vasupal, Rupal Yogendra, Sachit Singhi
Launch 2005

Stayzilla was founded out of the founders’ passion for traveling. They created a travel platform for travelers to stay in homestays and collaborated with almost 55000 properties. The reason they failed was that they burned cash in trying to create demand. Although they showed a remarkable growth rate, their aim to scale and rebrand resulted in high capital investments which did not match revenues earned.

TASKBOB

Failed Indian Startups
Taskbob
Startup Name Taskbob
Headquarter Bengaluru
Founders Aseem Khare, Abhiroop Medhekar, Ajay Bhatt and Amit Chahalia
Launch 2014

Taskbob was a startup that aimed to provide home services to customers. The services can be anything- beauty to home repairs. While the idea was great and achieved targets, it was neither scalable nor profitable. A rise in margins saw a fall in the number of customers. Ultimately, they had to shut down.

TAPZO

Indian Failed Startups
Tapzo Logo
Startup Name Tapzo
Headquarter Bengaluru
Founders Ankur Singla, Vishal Chaudhary, Avinash Vankadaru, Vishrut Talsani
Launch 2012

Tapzo was an app aggregator- it brought together apps across all categories under a single roof. Despite having a huge user base- around fourteen thousand users, regular subscriptions, and solid investments, the startup was valued nearly at half the value of the previous round of investments. This led to the acquisition of Tapzo by Amazon Pay.

TAZZO

Failed Indian Startups
Tazzo
Startup Name Tazzo
Headquarter Bengaluru
Founders Priyam Saraswat, Shivangi Srivastava, Priyank Suthar, Vikrant Gosain
Launch 2014

Tazzo is a bike rental company similar to the startup OFO discussed above. The startup’s app came with live GPS tracking and they charged around INR 5/km. A lack of funding in subsequent rounds owing to a lack of profitability led to its shutting down in two years.

WYDR

Indian Startups that Shut Down
WYDR
Startup Name WYDR
Headquarter Gurugram
Founders Devesh Rai, Hitha Uchil, Varun Guru
Launch 2015

Wydr was an e-commerce platform selling a range of products to a range of buyers. They boasted of almost ten thousand manufacturers. Customization and price negotiation were key advantages. The investors consciously scaled-down the startup for three months before shutting it down and did not declare any reason for doing so. We can speculate that competition might have been a reason.

YUMIST

Indian Startups that Shut Down
Yumist
Startup Name Yumist
Headquarter Gurugram
Founders Alok Jain, Abhimanyu Maheshwari
Launch 2014

The startup founded by a former Zomato official and a restauranteur served home-cooked food at affordable prices. Lack of funding was the main reason behind their failure.

ZEBPAY

Indian Startups that Shut Down
Zebpay
Startup Name Zebpay
Headquarter Ahmedabad
Founders Saurabh Agarwal, Sandeep Goenka, Mahin Gupta
Launch 2014

Zebpay is another cryptocurrency exchange platform. At its peak, it has almost three million subscribers. A policy issued by the Reserve Bank of India, restricting payment companies to extend cryptocurrency services and a subsequent redressal hearing fixed after a year, left the cryptocurrency trading policies in limbo. Amidst the uncertain environment, the company decided to shut down.

Any entrepreneur knows that there is an element of risk involved with startups. The solid funding round does not guarantee continuous funding. The market is ever fluctuating. It is important to give your one hundred percent to every startup you work in or found because it is a learning process. Taking risks and exploring the unknowns will give you a world of exposure rather than sticking to your comfort zone for the sake of success.

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About Gorish Dua

Final Year DUtian | Digital Marketer | Netflix lover | Connect with me on Linkedin: https://www.linkedin.com/in/gorish-dua-147700185/
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