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200 Startup Companies Were Shut Down in 2016 after Fund Raising

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Around 212 startups were shut down their services in 2016 which is 50% higher than last year, when about 140 startups shuttered, according to data analytics firm Tracxn. The biggest casualty in 2016 was grocery delivery startup PepperTap, which was dubbed the biggest com petition to BigBasket last year. It topped the list of startups that shut after having raised the highest funding.

“This is a natural progression,” says Mohan Kumar, executive director, Norwest Venture Partners India.”When you look at the ecosystem, not more than 20% of the startups succeed. Two to three years after a startup’s inception is a time when you see high mortality .There is too much competition, and only a few survive.” Read more

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Sweekar S

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