Peak XV Partners-backed AI startup Nintee shuts shop
Nintee, backed by investors such as Peak XV Partners and Cred founder Kunal Shah, has shut shop as of Tuesday, its founder Paras Chopra said.
“Our original hypothesis was to use Al for helping people build better habits to transform their lives. This attracted a passionate niche, but we couldn't build conviction that it could be a VC-scale business,” Chopra said across announcements on X, LinkedIn, and the official website of Nintee.
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Offering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Product ManagementVisitChopra said the company had tried another pivot to explore education- and learning-related ideas, but discovered that building a successful consumer app currently is hard, having to compete for attention against wider platforms such as YouTube, Instagram and Fortnite.
He added that the funding raised by Nintee, the majority of which is still remaining, will be returned to all investors over the next few weeks.
Chopra is also founder of Wingify, a New Delhi-based website testing software provider that has been bootstrapped since inception.
All employees working at Nintee will be given four months of severance pay and an open offer letter to join Wingify, Chopra shared. These employees will be offered the same salary without any gap in employment, he added.
On its twelfth anniversary on May 27, 2022, Chopra had shared on X that
