Startup Name: My Tirth India
Founded: 2018 (some sources cite 2019)
Closed On: August 2024
Business Model:
My Tirth India was a tech-enabled spiritual travel platform providing a one-stop portal for pilgrims and tourists to visit India’s top religious destinations. The company offered tailored travel packages, temple darshan bookings, and bundled services such as hotel and homestay reservations, priest bookings, online prasad and puja facilities, astrology and ayurveda consultations, and funeral services. It also launched spiritual membership programs and opened spiritual showrooms in cities like Lucknow, Varanasi, Kolkata, and Noida, selling puja products and spiritual merchandise. The startup partnered with tourism boards, IRCTC, and other travel and event platforms to expand its reach.
Reason for Closure:
My Tirth India was forced to pause operations following the sudden death of its principal investor and mentor, Subrata Roy (founder of Sahara India Pariwar), who had invested nearly $1 million in the company. The loss of this key shareholder led to a severe funding crunch. The company, already running with a skeletal staff and no office, could not secure alternative funding and was unable to continue operations. Founder Indraneel Dasgupta cited the inability to pay staff and lack of resources as the main reasons for the shutdown.
Learnings to Be Avoided by New Startups:
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Diversify Funding Sources: Relying heavily on a single investor or mentor can be risky; maintain a broad base of financial backers to ensure business continuity.
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Build Financial Resilience: Always have contingency plans for funding, especially in sectors where operations are capital-intensive.
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Plan for Leadership and Investor Succession: Sudden loss of key stakeholders can destabilize a startup; plan for succession and continuity.
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Maintain Operational Flexibility: Be prepared to scale down or pivot quickly in response to financial or market shocks.
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Transparent Communication: Keep employees and stakeholders informed during crises to maintain trust and morale.
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Understand Market Dynamics: Even in large markets like spiritual tourism, sustainable growth requires careful management of resources and partnerships.
Summary Table
| Aspect | Details |
|---|---|
| Startup Name | My Tirth India |
| Founded | 2018 (some sources cite 2019) |
| Closed On | August 2024 |
| Business Model | Tech-enabled spiritual travel platform; bundled travel, darshan, online rituals, memberships, products |
| Reason for Closure | Funding crunch after death of principal investor Subrata Roy; inability to secure alternative funding |
| Key Learnings | Diversify funding, build resilience, succession planning, operational flexibility, transparent crisis management |
My Tirth India’s story highlights the vulnerabilities of relying on a single key investor and the importance of financial and operational resilience, even in large and promising markets like spiritual tourism