How Indian Startup Founders Bounced Back In 2023 With New Ventures

The year 2023 has been a challenging one for the Indian startup ecosystem, with many founders and CEOs stepping down from their roles amid funding crunch, business restructuring, and governance issues. However, some of these entrepreneurs have not given up on their dreams and have started new ventures in different domains. Here are eight such founders who started up again in 2023.

Dineout’s Vivek Kapoor Entered The Healthtech Space

Vivek Kapoor, who cofounded the restaurant reservation platform Dineout, left Swiggy in July to join AyushPay, a healthcare financing startup, as its cofounder and chief business officer. Kapoor was part of Swiggy’s leadership team after Dineout’s acquisition by Times Internet last year. He was also an angel investor and mentor for AyushPay, which provides payment solutions to patients to make healthcare accessible and affordable.

Teachmint’s Anshuman Kumar Launched A Dating App

Anshuman Kumar, who cofounded the edtech startup Teachmint, quit the company in March to focus on his new venture, Duolop, a dating and relationship management app. Duolop is an app for couples, both married and unmarried, which aims to simplify the complexities of managing a relationship. It offers a private chat feature, date planning, and other tools to help couples connect and grow together.

Zolostays’ Akhil Sikri Started Two New Projects

Akhil Sikri, who cofounded the coliving startup Zolostays, stepped away from his operational role at the company to pursue his new entrepreneurial opportunities. He cofounded two new startups, Quick Response and Mozak, in 2023. Quick Response is a fintech startup that offers payment issuance infrastructure to businesses and banks. Mozak is a Web3 platform that is yet to be revealed. Sikri continues to be on the board of Zolostays, which competes with the likes of Isthara and Stanza Living.

GoMechanic’s Rishabh Karwa And Nitin Rana Embarked On New Adventures

Rishabh Karwa and Nitin Rana, who cofounded the automobile after-sale services startup GoMechanic, stepped down from their roles after admitting to financial misreporting. The cofounders are now working on two separate and unnamed new startups. Karwa’s social media posts indicate that he is building a product for local businesses, while Rana’s LinkedIn profile shows that he is working on a travel and hospitality product for the Indian subcontinent and the world.

Polygon’s Jaynti Kanani Cofounded Two New Ventures

Jaynti Kanani, who cofounded the blockchain scaling platform Polygon, resigned from his position at the company to focus on his new opportunities. He cofounded two new startups, Mozak and Morphic, in 2023. Mozak is another Web3 platform, while Morphic is developing a platform to assist creators, filmmakers, and animators in producing high-quality content using AI technology. Kanani stepped down from Polygon around the same time when the company undertook mass layoffs earlier this year.

ShareChat’s Bhanu Pratap Singh And Farid Ahsan Established A Robotics Startup

Bhanu Pratap Singh and Farid Ahsan, who cofounded the social media platform ShareChat, quit the company in January to start their second venture, General Autonomy, a robotics startup. The cofounders raised $3 Mn in seed funding from India Quotient and Elevation Capital in November for their new venture, which aims to build robots for various use cases. The third ShareChat founder, Ankush Sachdeva, continues to be the CEO of the social media unicorn, which also acquired MX TakaTak in 2022.

ZestMoney’s Lizzie Chapman And Priya Sharma Moved To New Roles

Lizzie Chapman and Priya Sharma, who cofounded the fintech startup ZestMoney, moved to new roles within the company in 2023. Chapman, who was the CEO, became the executive chairperson, while Sharma, who was the CFO, became the president. The cofounders handed over the CEO role to Ashish Anantharaman, who was the CTO and the third cofounder of ZestMoney. The startup, which offers buy now, pay later (BNPL) solutions, said that the move was part of its growth strategy and expansion plans.

Chingari’s Sumit Ghosh And Deepak Salvi Started A Crypto Platform

Sumit Ghosh and Deepak Salvi, who cofounded the short-video app Chingari, started a new venture, CryptoZee, a crypto platform, in 2023. The cofounders said that they will continue to be involved with Chingari, which competes with the likes of Moj and Josh, but will focus more on CryptoZee, which aims to make crypto investing easy and accessible for Indians. The platform claims to have over 100,000 users and offers features like crypto trading, staking, lending, and NFT marketplace.