According to sources aware of the development, FrontRow, a learning platform for non-academic skills, has ceased operations. Even after significant funding, it was on the verge of shutting down because it was having trouble finding a product-market fit.
The Bengaluru-based startup already let go nearly 90% of its staff over two phases in 2022, and it recently told the rest to look for work elsewhere. The business also discussed acquisitions with bigger competitors in this market.
Sources claim that the company is also returning about $2.5 million to its investors, who also include Elevation, EightRoads, and Lightspeed. It has so far raised more than $17 million over two rounds.
According to media reports, Frontrow founder Inshaan Preet Singh Said, “We are still exploring potential acquisitions of the IP/team etc but also deciding whether it just makes more sense to return the capital and will decide that with the board in the next couple of months”.
A number of startups with respectable funding, including Frontrow, have stopped operating or are about to stop.
Recently, healthtech startup Mojocare made headlines due to its impending closure as a result of its investors’ lack of interest in a meaningful sell-out. The business, which has funding from Sequoia and B Capital, has raised close to $25 million. After receiving over $20 million from companies like Accel, Quona Capital, and Elevation Capital, the cryptocurrency startup Pillow last month shut down its operations in India.
