My Tirth India, a spiritual technology startup, has announced its closure due to insufficient funding. The company, which sought to offer a digital platform for spiritual seekers, couldn’t secure the financial support needed to sustain its operations.
Established in 2018, My Tirth India created a mobile app and website featuring various spiritual services, such as virtual pilgrimages, meditation sessions, and access to religious texts.
Despite its efforts, the company struggled to attract investors and generate enough revenue to keep its operations going.
What the CEO said
Founder and CEO Indraneel Dasgupta mentioned that the company has been dealing with a funding shortfall since the death of its principal shareholder and mentor, Subrata Roy, founder of Sahara India Pariwar.
Our goal has been to assist people in re-establishing a connection with their cultural, traditional, and ancestral roots, thus we have worked hard to develop jobs in towns, villages, and cities. It is with great sadness that we must now close the office due to a lack of funds following the unfortunate passing of our principal shareholder and mentor,” Dasgupta said in a statement.
“Currently, we are unable to move forward, operating with a minimal staff who are working without pay, from home, and without an office. With no funds left, we have no choice but to cease operations,” Dasgupta added.
As the company winds down, My Tirth India is focusing on ensuring a smooth transition for its users and partners and is exploring options for selling its assets or intellectual property.