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Faad Network-Backed Gen AI Startup InsurStaq.ai Shuts Operations

Inc42 · 8m

Delhi NCR-based generative AI startup, InsurStaq.ai, has decided to shut down its operations due to significant challenges. The startup, founded in 2022, was focused on developing Gen AI infrastructure for the insurance industry. The decision to shut down comes amid the growing popularity of generative AI in India. Founder Mayan Kansal expressed gratitude to the team and mentioned the difficulties that led to the closure in a LinkedIn post. This year, several other startups, including Bluelearn, My Tirth India, and Nintee, have also ceased operations.