Outlook Business Desk
In 2024, several Indian startups faced shutdowns across various sectors, despite the emergence of new unicorns, highlighting the challenges faced by startups this year such as funding shortages and unsustainable business models. Here are some of the notable startups that didn't survive.
This insurtech startup, backed by Peak XV Partners and Orios Venture Partners, shut down in August after running out of funds. Despite attempts to secure capital, internal issues and unpaid salaries led to its closure, and a debt fund took it to the National Company Law Tribunal over unpaid loans.
The homegrown social media platform, positioned as a rival to Twitter, shut down in July due to failed partnership talks and high technology costs. Founders Aprameya Radhakrishna and Mayank Bidawatka announced the closure on LinkedIn.
Toplyne, a sales software provider for product-led companies, shut down in October after 3.5 years of operation. Despite backing from Tiger Global, it failed to achieve product-market fit and will return capital to investors.
My Tirth India, a spiritual tech startup for religious travel, shut down in August. Founder Indraneel Dasgupta attributed the closure to a funding shortage, worsened by the death of principal shareholder Subrata Roy
Bluelearn, an upskilling and job-finding platform, shut down in July after raising $4 million. Despite investor backing, it struggled to make a sustainable impact and returned 70 per cent of its capital
Stoa, an edtech startup offering a six-month MBA program and backed by Zerodha's Nithin Kamath, shut down in November 2024, without disclosing specific reasons, after competing with other business schools