Startups that Shut Down in 2023 in India


FrontRow, a hobby learning platform featuring celebrities, shut down its operations in July 2023 due to difficulties in finding a viable market for its product.


ZestMoney, a BNPL (Buy Now Pay Later) lending fintech that allowed its users to pay back in EMIs, ceased operations at the end of the year 2023.

DUX Education

DUX Education, an online tutoring edtech startup for K-12 students, shut down its operations in April 2023 due to a lack of funding.


OSlash, a B2B SaaS (Software-as-a-Service) startup, wrapped up operations in November 2023 after running the company for three years.


Tiki, a short-form video app like TikTok that was launched just after TikTok’s ban in 2020, ceased its operations in India in July this year despite having around 35 million monthly active users.

Vah Vah

Vah Vah, a vocational training startup offering professional courses in makeup and hair styling, shut down in July 2023 due to a funding crunch and was unable to find a sustainable business model.


Belora Cosmetics shut down in October 2023 due to a lack of funding and not getting potential buyers. It used to manufacture long-lasting, toxin-free, and certified vegan products.


Anar, a B2B networking platform founded by Nishank Jain and Sanjay Bhatt, shut down in November 2023 returning the remaining capital to its investors.


Bluepad, a vernacular content platform founded in 2020 by Sanjyot Bhosale, Devakrishna Asokar, and Kishore Garimella, shut down this year as they couldn’t envision a need for the product.


Friyey was a co-working space provider that shut down in July this year due to a funding crunch, rising expenses and a lack of constant demand from the customer side.


ConnectedH, a full-stack B2B health-tech startup founded in 2018 by Subham Gupta, Rahul Kumar, and Suresh Singh, shut down around July 2023 stating that it would return the remaining capital to its investors.


Akudo, a neo-banking platform for teenagers, is shutting down its operations at the end of this year. It provided personalised prepaid debit cards to teens which could be managed by the parents.


Mojocare, a health and wellness startup providing solutions across sexual wellness, haircare, weight management, mental health and women’s wellness, shut down amidst alleged financial irregularities.


PenCircle was a fan patronage startup like Patreon where creators could give exclusive benefits to their top patrons and patrons could build a personal connection with their favourite creators.


Quizy, a real money gaming platform shut down in August 2023 after the imposition of 28% GST on online gaming platforms.


WeTrade, a crypto startup aimed at making crypto trading easy and rewarding, shut down operations in February 2023 amid the funding winter and uncertainties in the crypto market.


FanTok, a real money gaming app, halted its operations in August 2023 after the imposition of a 28% GST (Goods and Services Tax) on online real-money games.


Fipola was an online meat retail company that ceased its operations in February 2023 as it was unable to raise further funding.

Flint Money

Flint Money was a crypto investment app launched by Flint Labs that was discontinued amid regulatory challenges and unfavourable market conditions.


StreamAnchor was a community monetization platform which offered tools to build an online academy for creators and educators.