One of the most recurring events in the world’s third-largest startup ecosystem, alongside annual layoffs, ESOP buybacks, and the rise of unicorns, is the departure of cofounders and leaders from their companies.
Every year, we see news of top startup personalities stepping down for various reasons, such as exploring new opportunities, pursuing other ventures, taking breaks, or transitioning due to mergers and acquisitions. This year follows a similar pattern.
While some exits this year were driven by sectoral challenges or operational hurdles, many founders chose to start their second entrepreneurial journey.
Interestingly, the frequency of such exits has not diminished in recent years. After high-profile exits from Ola, BigBasket, and Milkbasket in 2021, the trend continued into 2022, with prominent figures like Mohit Gupta (Zomato), Ashneer Grover (BharatPe), and Porush Jain (Sportskeeda) stepping down from their roles.
In 2023, the wave of exits gained even more momentum, with over 30 founders either launching new ventures, transitioning within their companies, or moving to other organizations. Significant exits included leaders from ShareChat, ZestMoney, DealShare, and Chingari.
As we move toward 2025, we’ve already witnessed leaders like Chandan Singh (Adda247), Sourjyendu Medda (DealShare), and Mayank Kumar (upGrad) depart to pursue new ventures. Others have opted for a break to focus on work-life balance or to explore new fields.
As startups prepare for potential public listings in 2025, leadership changes are expected to increase. Let’s take a closer look at the notable exits from startups this year.
Founders Who Left Their Ventures in 2024
Chandan Singh (Adda247)
After being promoted to Cofounder in November 2022, Chandan Singh left Adda247 in September 2024 after five years with the company. He had joined as Vice President (Product) in 2019 and was later appointed Chief Product Officer. Singh is now focused on building a new venture, though the details are yet to be revealed.
Avnish Anand (CaratLane)
Avnish Anand, Cofounder and CEO of CaratLane, resigned in August after a decade with the Tata-owned jewelry startup. Anand cited the need for a better work-life balance and plans to continue contributing to the startup ecosystem. Before CaratLane, he had roles at Standard Chartered Bank, DuPont India, and Times Business Solutions.
Sourjyendu Medda (DealShare)
After two cofounders left DealShare in the previous year, the third cofounder and CEO, Sourjyendu Medda, stepped down in January 2024. Medda is now focusing on a new venture, Sports For Life (SFL), although he retains a stake in DealShare. Kamaldeep Singh succeeded him as CEO.
Jamil Ahmad (Fashinza)
Jamil Ahmad, Cofounder and Chief Business Officer of Fashinza, left the company in January to start a new real estate venture. Ahmad has since launched Marrfa, a real estate marketplace that secured pre-seed funding from the VC firm Fundamental.
Harsha Shah (Fynd)
After 12 years, Harsha Shah, Cofounder of Reliance-owned Fynd, left the company in November 2024. While the reasons for his departure were not disclosed, Shah will continue to serve on Fynd’s board.
Siddharth Mahanot (Indifi)
Siddharth Mahanot, Cofounder of Indifi, stepped down in October after almost a decade with the company. He will remain a shareholder and continue to serve on the board, though he will no longer oversee day-to-day operations.
Rakesh Deshmukh (Indus OS)
Rakesh Deshmukh, Cofounder and CEO of Indus OS, left the PhonePe-owned app discovery platform in January after a decade with the company. Deshmukh is now working on Natoe.ai, an AI-driven startup.
Vivek Tiwari (Medikabazaar)
Vivek Tiwari, Cofounder and CEO of Medikabazaar, a B2B healthcare supply chain startup, stepped down in July 2024 following a management restructuring. Tiwari remains on the board, with Dinesh Lodha taking over as CEO.
Prashant Janadri and Naveen Ram (Taskmo)
After Taskmo was acquired by Quess Corp in April 2024, both cofounders, Prashant Janadri and Naveen Ram, exited the company. Taskmo, a gig economy platform, was launched to connect businesses with on-demand talent.
Hemesh Singh (Unacademy)
Hemesh Singh, Cofounder and CTO of Unacademy, transitioned to an advisory role in June 2024 after eight years with the edtech platform. Gaurav Munjal and Roman Saini will continue to lead the company.
Mayank Kumar (upGrad)
Mayank Kumar, Cofounder and Managing Director of upGrad, stepped down in October 2024 to start a new venture focused on placing skilled Indian labor, especially in healthcare. His departure coincided with upGrad’s recent funding round and its plans to go public in the next two years.
Sanjay Dasari (WayCool)
Sanjay Dasari, Cofounder of WayCool, stepped down from his executive role in November 2024 after almost a decade with the agritech startup. Dasari will continue to support the company as an advisor while focusing on angel investing and startup mentorship.
Akriti Chopra (Zomato)
Akriti Chopra, Cofounder of Zomato, left the company in September 2024 to pursue other interests. Chopra had been with Zomato since 2011 and played an instrumental role in its growth, eventually becoming CFO and a Cofounder in 2021.