

Despite raising an $85M Series B round in August 2021, which at the time seemed to signal a promising future for the country’s burgeoning startup ecosystem, the company was unable to finalize the funding round it had planned for this year. Pakistan-based Airlift - a ridesharing turned rapid delivery service - announced that it would be closing down operations in the middle of July. Title: Airlift, Pakistan’s top startup, shutting down following funding crunch
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Note that this update is not exhaustive of all startup failures that occurred over the analyzed period. Read on for the detailed post-mortems of 16 startups that have shut their doors from April 2022 to present. Notably, of the 16 startups that we’ll say goodbye to here, 3 were India-based edtech startups that followed Lido Learning ’s footsteps of failure to the end of the line. While some companies faced other difficulties - such as a data breach ( myNurse ) and a lack of product vision clarity ( Friday ) - a majority of the startups that have folded since April 13 did so due to their inability to raise fresh capital in this harsh fundraising environment. If you’re wondering how this downturn has played out on a company level, look no further - these forces were addressed in reports surrounding about 2 out of every 3 startups covered in the below update.

In fact, global funding to startups fell 23% quarter-over-quarter to $108.5B in Q2’22 - the largest quarterly percentage drop in funding in nearly a decade. Startup Failure Post-Mortems 2022 Third Update (07/16/22)ĭriven by overwhelming economic uncertainty and investor skepticism, venture funding has continued to plummet since our last update.

Startup Failure Post-Mortems 2016 Second Update ().Startup Failure Post-Mortems 2016 Third Update (11/8/16).Startup Failure Post-Mortems 2017 First Update (2/10/17).Startup Failure Post-Mortems 2017 Second Update (6/9/17).Startup Failure Post-Mortems 2017 Third Update (10/31/17).Startup Failure Post-Mortems 2018 First Update (4/17/18).Startup Failure Post-Mortems 2018 Second Update (8/13/18).Startup Failure Post-Mortems 2018 Third Update (11/14/18).Startup Failure Post-Mortems 2019 First Update (2/28/19).

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