â€œAs a team weâ€™ve decided to move over this business and weâ€™ll be working on a new product. I hope we were able to serve you well,â€ added Singhal.
Food tech start-up Dazo has decided close its services after almost a year of its inception.
Started in October 2014, with the name Tapcibo, the company used to aggregate meals from partner restaurants and took care of last-mile delivery to ensure superior customer experience.
Started by ex- Red Bus employees, Sashank Shekhar Singhal and Monica Rastogi, the group got investors like Amazon India chief Amit Agarwal, Google India chief Ranjan Anandan, Commonfloor’s Sumit Jain, TaxiForSure’s Aprameya Radhakrishna and Alok Goel, the former Freecharge chief executive who recently joined venture capital firm SAIF Partners after Freecharge was bought by Snapdeal and Ashish Dev kapur owner of Yo! China and DimsumBros. In April, Tapcibo was rebranded as Dazo and raised an undisclosed amount from these industry executives. According to Singhal, the team has decided to work on a different project.
“As a team we’ve decided to move over this business and we’ll be working on a new product. I hope we were able to serve you well,” added Singhal.
The company had initially started out as an Internet-first kitchen and subsequently pivoted to an aggregator of select restaurants. Besides, getting lots of investments on board the model doesn’t seems to be scalable as compared to the base kitchen format as last week it was in news that SpoonJoy is scaling down its operations in Bengaluru and stopped operations in Delhi.