Bangalore based food tech startup, Dazo has shut down and the company has stopped taking new orders.
Dazo started as a curated food demand platform and had raised funding Google’s Rajan Anandan, Amazon’s country manager Amit Agarwal, Commonfloor’s Sumit Jain, TaxiForSure’s Aprameya Radhakrishna and SAIF’s Alok Goel.
“As a team we’ve decided to to move over this business and we’ll be working on a new product” says the Dazo email.
Important to note that a lot of nifty features from Dazo were copied by some of the big players. Recently, SpoonJoy too stopped its Delhi operations and the ones who failed to raise Series A are on the verge of either a pivot (to smaller scale operations) or are shutting down.
Does this mean ‘winter’ is coming? No. In any industry, this is bound to happen – the *late to market/fund raise* will lose out to the hustlers.
I have been writing, the space is so much crowded and people were mad in Investing in Online (Consumer Technology Space) and M Commerce based businesses, there would be many more shutdowns in coming months…..