After letting go of its workforce, education platform FrontRow that was backed by celebrity like Deepika Padukone and Raftaar has ceased business operations. In a statement to BQ Prime on Monday, co-founder Ishaan Preet Singh disclosed the news and stated that the startup officially ceased regular operations on June 30.According to him, the business is looking into possible purchase agreements of the platform itself and its team while also weighing whether it would be "more prudent to return the capital." In the coming few months, the board and he will make a decision on that. FrontRow returned to its position as a seed business with about 35 employees after the layoffs in October of last year, he claimed.
He claimed, "We conducted numerous experiments to identify product market fit in the non-academic learning space. "We conducted three to four tests, including offline holistic development for children and career-focused education for adults. "With investors like Elevation Capital, Lightspeed Venture Partners, Cred's Kunal Shah, Unacademy's Gaurav Munjal, and ShareChat's Farid Ahsan, the startup had raised approximately $17.2 million, or Rs 130 crore. Singh claimed that his group and the business's shareholders had "always set a June date for pausing to think about the pilots."We're having numerous discussions about where the company should be located, including whether the market is big enough to support a solo player or whether this matches better within a bigger multi-category firm, he said. "We've made a great deal of growth and have proved to be margin positive, but a very small-scale company," he said. Singh emphasised that this is not a concern about funding or runway money. The runway is more than three years, he declared. He noted that it's more important to make sure that, as you gain more knowledge, you are open about if your goal of creating a major company is realistic in a given market prior to attempting to raise capital for it.In order to invest in start-ups with a consumer promenience, Deepika Padukone, known for her entrepreneurial passion, founded KA Enterprises in 2014. In addition to her business endeavours, Deepika has achieved a triumph in the skincare sector and developed a devoted fan base.