Airlift
During the pandemic, Airlift, a mass-transit startup that operated an Uber-like service for buses in Pakistan, was in a tight spot. Founded by Usman Gul, Ahmed Ayub and Meher Farrukh in 2019, the company pivoted to instant delivery, to meet the needs of millions stuck at home. This move paid off and Airlift became the most valuable Pakistani startup and secured $85 million in a single funding round.However, two years later, in another economic shift, Airlift failed to repeat history. In July, the company announced that it was shutting down and blamed the global recession. The rapidly deteriorating conditions in the global economy resulted in a complete shutdown of the company
Bolt Mobility
Bolt Mobility, the Miami-based micromobility startup known in large part due to its co-founder Usain Bolt, received a lot of attention when it first popped up in 2018. And it came with lofty ambitions, looking to revolutionize transportation in a way that was safe and capable of leaving a positive impact. However, despite a strong start and a seemingly bright future, the startup abruptly shut its doors earlier this year.Bolt Mobility lost its permit to operate in Portland in July due to issues with insurance and outstanding fees. It was said that around 100 bikes were left inoperable and with dead batteries.
BeyondMinds
The Israeli company raised $15 million in November 2020, but couldn’t survive the downturn in the tech market and is closing its doors after failing to find a buyer