Ten Startups that called it quits In 2017

Startup shut down is the part of the entrepreneurial eco-system and this fact cannot be denied. As per the study of Oxford and IBM, about 90% of the Indian startups fail to survive the initial five years and got doomed. In the previous year, approximately 29 startups shutdown between January 2016 to August 2016, and majority of them were based on the hyperlocal business model.

In 2017, the trend of closing the operation continued, with 8 startups made their exits. Among all the 10 shutdowns, Stayzilla got more public due to founders legal controversies. Other sectors that were majorly impacted include foodtech, hotel booking, e-commerce, and aggregation. Though Indian government is providing every possible support to flourish the Indian Startup Ecosystem, the chances of every startup getting successful are very low despite funding, mentoring, and service support.

Below are the startups that decided to quit the race in 2017

  1. Taskbob

Launched in: 2015

Founders: Aseem Khare, Abhiroop Medhekar, Ajay Bhatt, Amit Chahalia

Headquarters: Mumbai

Category: Hyperlocal, on-demand home Services

 

  1. Prophesee

Launched in: 2014

Founders: Ishaan Sethi, Harshil Gurha, Jitesh Luthra

Headquarters: Delhi

Category: SaaS

 

  1. Splitkart

Launched in: 2015

Founders: Sharique Khan, Monajeet Sinha

Headquarters: Gurugram

Category: Fintech

 

  1. Eatonomist

Launched in: November 2014

Founders: Anisha Dhar, Nupur Khanna

Headquarters: Gurugram

Category: Foodtech

 

  1. Roomstonite

Launched in: 2015

Founders: Suresh John

Headquarters: Bengaluru

Category: Online hotel booking

 

  1. Stayzilla

Launched in: 2005

Founders: Yogendra Vasupal (Yogi), Rupal Yogendra, Sachit Singhi

Category: Hotel aggregator

Headquarters: Bengaluru

 

  1. Shopo

Launched In: Relaunched in 2015

Founders: Registered as a separate entity for Snapdeal, acquired in 2013

Headquarters: Chennai

Category: Affiliate marketplace

 

  1. Turant Delivery

Launched In: 2015

Founders: Satish Gupta, Ankur Majumder, Siddharth Arora

Headquarters: Delhi

Category: B2B logistics

 

  1. Cube26

Launched in: 2012

Founders: Saurav Kumar, Abhilekh Agarwal, Aakash Jain

Headquarters: Delhi

Category: Mobile technology

 

  1. Tolexo

Launched In: 2014

Founders: Registered as a separate entity for IndiaMART

Headquarters: Noida

Category: B2B retail and B2B wholesale

At one side the Indian government is clearing the paths of the upcoming startups by providing a platform of Startup India Online Hub to motivate the businesses and entrepreneurs in the developing stage. But as we said earlier ‘shutdowns are the part of the business ecosystem’.

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