Gurgaon based Eatonomist, an online food delivery startup that used to deliver meals prepared in its own kitchens, has shutdown its operation lately.
As of now the Eatonomist website says — “We will be back shortly”
Exactly a year ago, the startup had raised an undisclosed amount in seed funding from MCube Capital Advisors Pvt Ltd however the company failed to raise much needed follow-on funding, and that might be one of the reasons for the shutdown.
Founded in November 2014 by Anisha Dhar and Nupur Khanna, Eatonomist was operational in Gurgaon and Delhi and followed a full-stack business model wherein it controls the kitchens and delivery services.
One of the Eatonomist co-founder — Anisha Dhar, has joined UberEATS, a food delivery service recently launched by cab-hailing service Uber, while Nupur Khanna, the other co-founder, left the company in November 2016, according to their LinkedIn profiles.
Notably, plenty of startups in India are failing to sustain its existence in last couple of years, particularly in food-delivery segment. Last year, several food-tech startups shutdown its operations including Bite Club, an another Gurgaon-based food delivery startup, along with others similar ones such as Frsh.com, iTiffin, Zuper Meal, MealHopper, and and Zeppery, which shut shop due to poor unit economics and unsustainable business models.
Just yesterday, IBM has released its report on failing Indian startups where it says that startups in India face failure because of poor corporate governance due to entrepreneurial inexperience and unethical business conduct.
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