Failure, they say, is the stepping stone to success. In this blog, we review some of the startups that pulled the plug in May 2017
- Food Delivery Startup Sprig Shuts Down as It Fails to Find Buyer – On-demand food delivery startup Sprig Inc. is shutting down, the company said Friday. Sprig, which cooked its own meals in-house and delivered them with drivers, was part of a bounty of such services that sprung up a few years ago, when venture funding for on-demand startups was strong. Like many of its peers, it struggled to make the business work: Bloomberg reported last week that it was burning $850,000 a month and seeking a buyer. Others like SpoonRocket and Maple have shuttered in the last year or so.
- B2B logistics startup Turant Delivery shuts shop – Delhi-based hyperlocal logistics startup Turant Delivery has ceased operations less than two years after its launch, with a deepening fund crunch and failure to raise capital rendering the business unviable. Run by Always Turant Delivery Pvt. Ltd, the startup was in talks with multiple venture capital funds to raise about $2 million in a pre-Series A round, but couldn’t close the deal.
- The food-delivery startup Maple has shut down – Maple, a New York City startup that had essentially built a delivery-only restaurant inside of an app, has shut down, the company announced to customers today.The company had raised around $50 million, and possibly even more, in venture capital, and had chef David Chang of Momofuku fame advising it. But it had struggled to keep costs in check and prices affordable, leaked documents previously published by Recode showed.
- Qliance healthcare startup cites lender fraud for sudden shutdown as patients are left in the lurch – Qliance Medical Management — a Seattle-based healthcare startup originally backed by investors including Amazon founder Jeff Bezos, TV personality Drew Carey and computer mogul Michael Dell — closed its six primary care clinics suddenly this week, saying the company would shut down June 15 due to financial difficulties.
- FoodTech startup Eatonomist Closes; Founder to Join UberEats – Food Tech Startup Eatonomist which is runned by Fitmeal Solutions Pvt. Ltd, has reportedly shut down their operations. The startup has quoted ” Will be Back Shortly” on their official website.The Gurgaon-Based startup was founded in 2014 by Anisha Dhar and Nupur Khanna. Eatonomist is an online food delivery startup that used to deliver meals prepared in its own kitchens.
- Bridj, local on-demand bus service, is shutting down – Bridj, a Boston startup that tried to merge the ease of hailing an Uber with the efficiency of commuter vans, abruptly shut down this weekend after funding talks fell apart, leaving thousands of riders looking for another way to get to work. The company, which had been praised for its innovative take on urban transportation, had been in extended negotiations with a car manufacturer, chief executive Matthew George said Sunday.