New ideas/global replicas, funding, scale up and shut downs have now become part and parcel of the Indian startup story. Almost every sub-sector in the tech startup space – e-commerce, cab aggregation, food-tech, grocery delivery – has seen the emergence of copycat business models followed by the inevitable struggle for survival. In a little over two weeks, as many as eight startups have either closed down or pivoted their business strategy. The food-tech sector, which was once a hot investment destination, has been hit hard especially.
Here’s a list of funded startups that have either permanently shut operations or scaled back their businesses: