100Unicorns-Backed Agritech Startup Greenikk Shuts Operations

Share via:


SUMMARY

Greenikk cofounder and CEO Fariq Naushad told Inc42 that loan defaults by borrowers was one of the major reasons behind the decision to wind up operations

Besides, the startup’s shut down was also owed to the low revenues, mounting losses and lack of investor interest to keep it afloat

Founded in 2020 by Naushad and Previn Jacob, Greenikk was building a digital ecosystem around banana cultivation. It counted the likes of 100Unicorns, Smart Spark Ventures, Mastermind Capital Ventures’ Manish Modi, among others as its…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

100Unicorns-Backed Agritech Startup Greenikk Shuts Operations


SUMMARY

Greenikk cofounder and CEO Fariq Naushad told Inc42 that loan defaults by borrowers was one of the major reasons behind the decision to wind up operations

Besides, the startup’s shut down was also owed to the low revenues, mounting losses and lack of investor interest to keep it afloat

Founded in 2020 by Naushad and Previn Jacob, Greenikk was building a digital ecosystem around banana cultivation. It counted the likes of 100Unicorns, Smart Spark Ventures, Mastermind Capital Ventures’ Manish Modi, among others as its…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Indonesia’s QR code payment expands regionally despite US criticism

Future collaborations are planned with Japan, India, South...

Elon Musk hints at Grok algorithm upgrade after Paul...

Elon Musk announced that a “much improved” Grok-powered...

Apple TV+ is ‘worst marketer in the universe,’ says...

Apple TV+ is over five years old, and...

Popular

Upcoming Events

Nigerian tribunal upholds $220 million fine against Meta

A Nigerian tribunal on Friday rejected Meta's appeal...

Trump’s tariffs: Shein, Temu to raise prices on imports...

Both brands primarily manufacture in China, which is...

Apple’s India Manufacturing Dreams Face China Hurdle

SUMMARY Earlier this year, Chinese authorities refused to allow...
GdfFD GFD GFD GFD GFD GFD GFD