Bengaluru: Online matchmaking startup Juleo has wound down its operations, with cofounder Varun Sud announcing that the company is ‘pausing’ its services after failing to secure additional funding.
In a LinkedIn post, Sud said that while Juleo had managed to build an AI-driven matchmaking platform focused on trust and safety, and had achieved early product-market fit, it struggled to convince institutional investors to back the business.
According to him, lingering skepticism stemming from past failures in the online dating and matchmaking space worked against the startup’s fundraising efforts.
The shutdown comes less than a year after Juleo raised $2.5 Mn in August 2024 from a group of prominent angel investors, including Ramakant Sharma, Kunal Shah, Ruchi Deepak, and Harsh Jain along with Lalit Keshre, among others.
Founded in 2023 by Sud and Chiranjeev Ghai, Juleo positioned itself as a subscription-led matchmaking platform. Beyond its app, the company experimented with offline community meetups and curated events to help singles connect in real-world settings.
At the core of its offering was an AI-powered matchmaker called Genie, which not only shortlisted compatible profiles but also coordinated in-person meetings. The platform also emphasised user safety and privacy, with women’s profiles remaining private by default unless they chose otherwise.
Moving forward, Sud hinted at founding a new venture in the “consumer AI space”.
During its operations, Juleo claims to have crossed over 5 lakh app installs, attracted around 1.5 lakh applicants to its ‘Club’ membership, and facilitated multiple relationships and marriages across India.
Juleo operated in a highly competitive market, going up against global players from Match Group, including Tinder, Hinge, OkCupid and Bumble, as well as homegrown rivals such as Aisle and Truly Madly.
Previous
