Mumbai based home & beauty services startup, Taskbob, owned by Crenovative Ideas, shuts down its operations, the company informed users in an email that was reviewed by IndianWeb2.

In an internal communication, Taskbob co-founder and CEO Aseem Khare said the company shut down its operations as of January 19 due to unforeseen circumstances.

“…due to unforeseen circumstances, Taskbob will be shutting down its operations as of 19th January. All the orders already placed in the system will be duly processed,” he said.

According to another media report, the decision of shutting the operation came after the startup failed to raise fresh funds since February last year.

Related – 20 Indian Startups That Died Young in 2016

Set up in December 2014 by Aseem Khare, Abhiroop Medhekar, Ajay Bhatt and Amit Chahalia, the startup had also acquired Zepper, a Bengaluru-based home services startup.

In February 2016, Taskbob had announced a Rs 28-crore Series A funding from Ivy Cap Ventures and existing investors Orios Ventures Partners and Mayfield India and thereafter the startup was waiting for the second tranche of about Rs 14 crore from IvyCap Ventures, which was expected to come in by November 30 last year and without fresh funds, it was unable not to just build scalability but most importantly profitability, ad finally the startup couldn’t survived.

Notably, Taskbob was part of Google Launchpad Accelerator Class-2 of 2016.

Like this content? Sign up for our daily newsletter to get latest updates.

Comments

Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You may also like