Online matchmaking platform Juleo has shut down operations. The startup’s cofounder Varun Sud took to LinkedIn to announce that the startup is “pausing” its services after failing to raise further capital. “We built an AI Matchmaker with zero scams, found product market fit and successfully got singles across India into relationships and marriages, but were sadly unable to get institutional investors to buy into our vision given baggage from past carcasses in the space,” Sud said. Important to mention that the startup had raised $2.5 Mn in a funding round in August 2024 from angel investors like Livspace cofounder Ramakant Sharma, CRED founder Kunal Shah, Acko cofounder Ruchi Deepak, Groww cofounders Harsh Jain and Lalit Keshre, among others. Moving forward, Sud hinted at founding a new venture in the “consumer AI space”. Founded in 2023 by Sud and Chiranjeev Ghai, Juleo offered subscription-based matchmaking services. It later began integrating offline community events and activities for singles to complement its digital offerings. Its AI-powered matchmaking, Genie, selected potential matches and managed the logistics of arranging in-person meetings. Further, women’s profiles were private by default, giving them control over their visibility. The startup claims that its app saw over 5 Lakh installation… Read MoreInc42 Media
