By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
TechziTechziTechzi
  • Home
  • Community
    • Our Review
    • Join Our Slack community
    • Referral: Richieee
    • Referral: 6 for 6
  • Publications
    • Special Report: SE Asian Startup Funding
    • Top 30 Most Funded Southeast Asia Startups
  • Agencies
  • About
    • About us
    • Contact
Search
© 2023 Techzi . All Rights Reserved.
Reading: Construction Tech Darling Gravel Crashes: A Cautionary Tale of Startup Implosion
Share
Font ResizerAa
TechziTechzi
Font ResizerAa
Search
  • Home
  • Community
    • Our Review
    • Join Our Slack community
    • Referral: Richieee
    • Referral: 6 for 6
  • Publications
    • Special Report: SE Asian Startup Funding
    • Top 30 Most Funded Southeast Asia Startups
  • Agencies
  • About
    • About us
    • Contact
Have an existing account? Sign In
Follow US
© 2023 Techzi . All Rights Reserved.
StartupsVC

Construction Tech Darling Gravel Crashes: A Cautionary Tale of Startup Implosion

Rary Maharani
Last updated: December 9, 2024 1:04 am
Rary Maharani
Share
1 Min Read
SHARE
  • Tech startup Gravel collapses after founder conflicts, investor retreat
  • Construction platform shut down entirely
  • Experts warn: alignment matters

Contents
Rapid Rise, Sudden FallFounders’ Feud and Financial FracturesA Lesson in Startup Survival

Rapid Rise, Sudden Fall

Indonesian construction tech startup Gravel, once backed by venture capital luminaries like Weili Dai and New Enterprise Associates, has abruptly collapsed. The company, which raised $14 million and claimed to connect construction workers through its platform, has shuttered operations, laying off its entire workforce and rendering its website and app non-functional.

Founders’ Feud and Financial Fractures

Internal conflicts between co-founders Georgi Ferdwindra Putra and Fredy Yanto reportedly triggered the startup’s downfall.

After a leadership change in December 2023, existing investors pulled back, leading to delayed wages, unpaid severances, and ultimately, the company’s demise. This follows a trend of struggling Indonesian startups facing funding crunches and operational challenges.

A Lesson in Startup Survival

The Gravel saga underscores critical startup survival strategies: transparent communication, founder alignment, and fiscal discipline. Startup expert Admond Lee emphasizes the importance of founders agreeing on vision, values, and exit strategies before scaling. Gravel’s rapid implosion serves as a stark reminder that investor backing and ambitious growth claims cannot substitute for solid leadership and financial management.

TAGGED:div5

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook X Copy Link Print
Share
Previous Article Alibaba Bets Big on Korean E-Commerce Darling Ably
Next Article Thailand Post Revs Up Digital Insurance Game Through Insurtech Partnership

Subscribe to our newsletter to get our newest articles instantly

Please enable JavaScript in your browser to complete this form.
=

Stay Connected

XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow

Latest News

Techzi is Pausing
Media December 24, 2024
Twitch Pioneer Emmett Shear Launches Mysterious AI Venture
AI December 24, 2024
OpenAI CEO Labels Musk a ‘Bully’ in Latest Tech Titan Clash
AI December 24, 2024
AI Revolution Could Spark Live Entertainment Boom
Culture December 24, 2024

You Might also Like

StartupsVC

Fusion Startup Type One Energy Secures $53.5M Boost

August 5, 2024
AIFAANG

Microsoft Surpasses Apple as World’s Most Valuable Company

February 17, 2024
VC

Malaysia Emerges as Southeast Asia’s Tech Investment Hotspot

July 29, 2024
Mobility

Carro Unifies Brand, Absorbs Malaysia’s myTukar

March 18, 2024
Accelerators

Orbit Startups names 9 firms in newest cohort

February 12, 2024
AIHealth-Tech

Eric Lefkofsky Gears Up for Tempus IPO, His Fourth Public Listing Rodeo

June 5, 2024
CreatorsMedia

Amazon’s MrBeast TV Show Gamble Hits Unexpected Snags

August 19, 2024
SaaS

HSBC, Temasek Inject Fresh Capital into Marketnode’s Expansion Drive

June 4, 2024
Startups

From Layoff to Top Seller: How One Man Turned $500 into an Eight-Figure Candle Business

February 17, 2024
Startups

Daryl Lim Dives into the Latest Trends in Southeast Asia’s Tech Ecosystem

March 18, 2024
Space

SpaceX Skyrockets: Valuation Nears $350 Billion in Insider Share Deal

December 10, 2024
Crypto & Web3

Chainstack Fuels Web3 Innovation with $6M Funding Boost

May 20, 2024

Techzi

SE Asian tech news: Free & Comprehensive. Read more

Quick Links

  • Logistics
  • Marketplace
  • Mobility
  • Startups
  • VC
  • Food tech
  • Gaming
  • Health-Tech
  • Media
  • Social Media
  • SaaS
  • Travel

Quick Links

  • AI
  • Edutech
  • Climate
  • Creators
  • Crypto & Web3
  • Culture
  • Deep Tech
  • e-Commerce
  • FAANG
  • Fashion
  • Fintech

Techzi Tech Newsletter

FREE and Curated by Tech Insiders

Legal

Privacy Policy

Terms & conditions

TechziTechzi
Follow US
© 2024 Techzi . All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?