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Zopnow closed all its operations in all cities from last month.
Zopnow is backed by Times Internet, Qualcomm Ventures, Dragoneer Investment Group, and Accel Partners.
Zopnow owner has made its new venture Zopsmart.
Zopnow was valued $50Million before closing its operations.
The company is now jointly acquired by Amazon and Samara in September 2018.
Bengaluru based Grocery delivery start-up perished its operations in all cities because of continuous downscaling of its business for the past seven months. Accel-backed Zopnow closed all its operations from last month. Zopnow came into action in 2011 by IIT Kanpur alumni Bal Krishna Birla and Mukesh Singh. Company initiated its business from inventory model and came completely in the market in 2014. It used to provide its facility in 10 cities including top metropolitan cities Delhi (NCR), Mumbai and Bangaluru.
The firm has till now raised $10 Million from Times Internet, Qualcomm Ventures, Dragoneer Investment Group, and Accel Partners.
Zopnow was valued $50 Million when Birla quit from the company and it was not able to raise further funds that led to the ceasing of its functions. Right now on going to website of Zopnow it redirects users to ZopSmart, a new venture of co-founder Mukesh Singh. It offers tools to build Omni channel businesses, e-commerce businesses and facility of pure play e-tailing for conventional retailers.
Zopnow was not able to raise more funds and capital for pursuing its operations effectively and was near to die. Therefore it sold its assists proprietary tools, software to more store before being jointly acquired in September 2018 by Amazon and Samara.
According to the Sources, Assets of Zopnow were sold to Aditya Birla-owned retail chain for a meager sum. Sources also added that investors received nothing from Zopnow.
Leadership and engineering team from Zopnow has switched to new venture ZopSmart. Currently, ZopSmart has 36 members as its workforce and it provides end to end e-commerce solutions ranging from website to payments, operations, marketing and much more. Recently it working with few high profile clients of Europe and the US. Its product portfolio consists of a smart point of sale and payment gateway for others and smart Store for medium and huge retailers. It is trying to expand its business and gain more funds.
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