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Food tech start-up Eatlo suspends operations

  • Food delivery
    start-up Eatlo Tech Solutions has stopped operations barely a year into its
    existence, the
    Mint reported.
  •  
  • It is, however, not
    immediately clear if the company has fully closed down.
  •  
  • Bengaluru-based Eatlo
    • Food delivery
      start-up Eatlo Tech Solutions has stopped operations barely a year into its
      existence, the
      Mint reported.
    •  
    • It is, however, not
      immediately clear if the company has fully closed down.
    •  
    • Bengaluru-based Eatlo
      had raised about Rs 6 crore in two rounds from Powai Lake Ventures; Abhishek
      Goyal, co-founder of start-up tracker Tracxn; and Haresh Chawla, partner at
      India Value Fund Advisors, the report said.
    •  
    • The company stopped
      accepting orders on December 15, three employees at Eatlo told the newspaper on
      the condition of anonymity. However, none of them have been fired or given an
      explanation on the sudden roll back of operations.
    •  
    • Co-founder Rahul
      Harkisanka denied the company has closed down and declined to comment on its
      financial health.
    •  
    • “We have temporarily
      stopped operations and revaluating things. We are trying to figure out the next
      step. It is just that we are taking a break and revaluating. It is confidential
      as to what we are doing,” Harkisanka said.
    •  
    • Eatlo was founded in
      November 2014 by Harkisanka, who had earlier worked with start-ups such as
      Freecharge, UrbanTouch and Fashionandyou and Sai Priya Mahajan, who also had
      stints with UrbanTouch and Fashionandyou.
    •  
    • The development comes
      at a time when investors are clawing back on investments, prompting start-ups
      to focus on reducing cash burn, the
      Mint
      report said.
    •  

     

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