Few poor decisions can kill a start-up: A food tech business went from boom to almost bust
A Mumbai-based food technology start-up, is staring rolling down, who could raised Rs 152 crore from various marquee investors In the past 18-odd months.
Losing Indian Rs 2.5 crore a month on an average, it was only left with Rs 18 crore at the beginning of this year, and has now run out of options.
No one wants to buy it, nor any investor is willing on funding the company. It’s only for a life of next six months, unless it can get funding or sell.
What happened to this blue-eyed child of the start-up ecosystem?
The slide started in late last year.
Over-hiring, a common mistake for start-ups: it had to fire 300 employees…Continue Reading >>