Fraazo shuts down operations in many locations; in talks for acquisition
- ByStartupStory | August 15, 2022
Fraazo, a fresh farm produce-oriented rapid commerce startup, is perhaps facing a full shutdown since the firm only has a few months of runway remaining, according to three people familiar with the company’s inner workings.
One of the sources mentioned above, who asked to remain anonymous, stated, “Fraazo has stopped operations in all cities, with the exception of Mumbai. Even in Mumbai, the company’s primary market, activities have been reduced by 50–60%.”
The organization had previously operated in seven locations, including Bengaluru, Hyderabad, Pune, and Delhi (NCR), but according to reports, “most of the local personnel in these cities have been sacked and dark storefronts have been shuttered.” This development occurs at a time when companies both in India and throughout the world are struggling to get financing. As a result, a number of software unicorns have cut staff and shut down loss-making verticals.
According to further sources, Westbridge, Fraazo’s current investor, has sent a tiny check to keep the company going for the time being. Another person familiar with the board’s deliberations, who also wanted to remain anonymous, said, “All investors, including Sixth Sense and Equanimity Investments, have said no to follow-on investment, and they categorically urged the firm to work out a merger and acquisition arrangement.”
About Fraazo
Fraazo, a retail brand of FreshVnf that offers fresh produce online and is situated in Mumbai, Maharashtra. Vikas Dosala, Atul Kumar, and Sumit Rai established Fraazo. A full-stack online platform for buying fresh produce, it manages both the front-end business operations and the whole back-end supply chain.
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