TOP 10 INDIAN STARTUPS THAT FAILED

TOP 10 INDIAN STARTUPS THAT FAILED

Hey everyone since our last Article was a massive hit we are presenting you another Article with another great TOP 10 INDIAN STARTUPS THAT FAILED last year that is 2017.


 Startup are melting down due to over hiring high cash burn rate squeeze on investment by VC firm and a massive decline in consumer demand due to demonetization .
TOP 10 INDIAN STARTUPS THAT FAILED


So hence before starting here is a quote for you Ideas are easy. implementation is hard By Guys Kawasaki (Silicon Valley Venture Capitalist) on.

 Number 10

 we have Finomena Finomena Facilitate Small Ticket Loan to Students and Young Professionals for buying electronic Devices and Appliances in March 2016 Finomena had Raise it seed Funding from Matrix partner and Angel investor with all this achievement and success in Short Spam of time,


 the question arises Why they failed ? well the Reason due to high Cash Burn and lack of more series funding other reason behind this startup set back is High Competition with rival company one of the greatest competitor of Finomena was Zest, cash care and many others On .

TOP 10 INDIAN STARTUPS THAT FAILED

Number 9

 We have Turant Delivery well.. the catchiest brand name couldn't be able to survive in the market Turant Delivery was an intracity logistic company which help Customer book and monitor their delivery on a daily basis Their service was so fast and great that they even receive over one crore rupees of seed funding From a group of undisclosed investors.

But.. that Funding was not enough for this company to survive in the market as this type of startup require large amount of working capital and they were unable to raise more fund it was unadvisable to burn there own money, blindly so they force to shut their service down in May 2017 On

 Number 8

 we have Cardback in 2012 Nidhi Gurnani and Nikhil Wason created a platform that gave reward point to a user While using the card for payment besides this, they also offer various cashback and discount offer for there customer  Card back also shows how many reward point she will earn on there transaction and how will they amount after 2 years of their success journey they where manage to raise Fund for around $170,000 from 3 Investors Sunil Kalra,

Alok Mittal and Rajan Anandan in June 2014 But.. on 2 June 2017,

Cardback tweeted this on Twitter which means they are going to close there service (NDTV Clip Host) Cardback a Fintech startup that shutdown in march earlier this year despite getting a boost after demonetization after some great research,

we found that after 2014 they were unable to grab any further investor to fund there startup and the other major challenge Cardback was facing was less demand for multiple credit card when we started out we have a very different perception we thought that number of cards especially credit card will be sold probably go up 10 times the usage That didn't really happen and what we saw that the number of people with wallet went up that probably went up 100 time and credit card usage was kind of tamper it didn't really Take off to plan 2 at a particular point on

TOP 10 INDIAN STARTUPS THAT FAILED

Number 7

 we have Inks Edge this startup idea was innovating and new in the market they offer personalized greeting card according to customer taste like card size, color, and photos in December 2014, Inks Edge receive $1.5 Million Dollar that is Rs 9 Crore Seed Fund from New Enterprise Associate (NEA) ,

 Pinnacle Ventures and Milliways Ventures to make this unique startup Happen But on 14 May 2017 Inks Edge posted this one on there Facebook site Which in short mean they are shutting their startup You can Screenshot this out and read it by your own if you want on.


TOP 10 INDIAN STARTUPS THAT FAILED

 Number 6 

we have yumist yumist main Aim was to provide hygienic home-style cook food service yes There are many people out there who live away from their home and miss their home sub-standard food and yumist fill those gaps Alok Jain : the idea behind yumist was to solve the problem daily meals in india .

it been something that two of us have always wanted to solve but you know an average Indian eats once in 10 days from a restaurant he's got to have 29 other meals in those 30 - 10 days right that's what constitutes a bunch of the market a daily means traditionally serviced by the dabbawalas traditionally serviced by the corporate canteens by the home kitchens right now .

that's a market which is way price-sensitive however it lacks quality and convenience and when we saw that when our friends told us about it when we experience it ourselves we thought hey let's do something about it lets build a food brand for the daily needles market at the conjunction of price-quality and convenience that's what we're trying to do at yumist in 2015 yumist finally, manage to raise.

 2 Funding that is one in February which was about 1 Million dollar and second funding they receive in December which was 2 Million-dollar that is in total 3 Million-dollars on September 2017.


 yumist close their operation yumist post a goodbye blog which stated everything about their main reason of yumist shutdown you will find that link in the description if you want to read it then you can go ahead they even discuss their business model too on.

 Number 5

we have Overcart overcart was India first E-commerce market place where you can buy refurbished, overstock, pre-own products it got 3 angel investment two main reasons which make this startup to close were first, the service was crappy yes the customer complain about not receiving a product on time and secondly, the product that the customer was receives they were of very cheap and low quality which was one of the main reason to shut down the startup in 2017 on .

Number 4

 we have Splitkart Splitkart help the user in splitting the bill equally and even planning a group outing it kind of good for that selfish friend who doesn't want to spend their money alone while group eating Luckily they were successful in raising undisclosable fund from former Snapdeal product head Mr. Anand Chandrasekaran, GSF India founder Mr. Rajesh Sawhney People Group Chief Executive Mr. Anupam Mittal MD of Macquarie capital of india Mr. Gaurav Gupta and indiamart CEO Mr. Dinesh Agarwal so many great and famous entrepreneur invested in this startup wow but sadly they just shut down in June 2017 2 year after their funding reason behind there closing is not clear yet maybe they were facing same problem like other such as cash crunch on .

Number 3

we have Roomstonite it is an India first startup which guarantee you to provide hotel room at last minute plan they got around 1.5 Million-Dollar of seed funding in December 2015 but sadly they close their operation in February 2017 Reason behind this is according to some report that the began to feel the heat of serial fund crunch by the beginning of 2016 so in the end, they decided to wrap it up Hotel Booking Startup Going through bad times Roomstonite close down all it operation within 3 year on .
TOP 10 INDIAN STARTUPS THAT FAILED

Number 2 

we have Dial A Celeb Another Unique Startup that promise to connect Fans with their Favourite celebrities in ways of chat Special Message or Video Chat yes it was a celebrity engagement service provider to a customer Hiten Tejwani : hi guys you want me to wish you, you want to have a chat with me you want to talk to me in video chat or anything you can always download Dial a Celeb but..

 unluckily within 5 month Dial a Celeb Close their service on May 2017 reason behind this officially nobody knows on

Number 1 

we have Fab Furnish this is kind of shocking to know that Fab Furnish has been Shut down it was a great online retailer for furniture related product it was started on 2012 and they were able to raise 30 Million-Dollar of funding FabFurnish.com revolutionize the shopping experience by making over 60 thousand home product available online the reason behind this startup failure was simple the future group .

who is the acquirer of Fab Furnish was running his own furniture offering company HomeTown and they were not able or wanted to merge both together so Taking 50% of Fab Furnish workforce and adjusted within their future group company and focus only one brand HomeTown Before Signing out.

 I would like to share one more inspirational quote said by famous and very well known Entrepreneur Richard Branson which is Do not be embarrassed by your failure learn from them and start again
TOP 10 INDIAN STARTUPS THAT FAILED


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TOP 10 INDIAN STARTUPS THAT FAILED

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