Zoplar, a Blume Ventures-backed B2B healthcare startup, has shut down operations just a month after raising $3.4 million in its Series A round, a development exclusively reported by Inc42.
The Delhi NCR-based startup made the decision in February this year and has since begun returning the funds to its investors.
Founded in 2022 by Amit Sah and Umesh Sharma, Zoplar served as a procurement platform for refurbished medical equipment, catering to over 300 small and mid-sized hospitals, primarily those with around 50 beds.
The startup provided not just affordable medical devices but also after-sales service, addressing a key need in the healthcare ecosystem.
The shutdown follows a regulatory directive from the Central Drugs Standard Control Organisation (CDSCO), which in early 2024, barred the import of second-hand or refurbished medical devices into India. The CDSCO also instructed customs officials to block such shipments at ports, effectively ending a major supply line for Zoplar.
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The startup had planned to expand by importing refurbished devices in bulk—one of the key reasons it raised its Series A round, which was led by Blume Ventures with participation from BEENEXT, Saison Capital, Atrium Angels, Finfirst, and LogX Ventures.
According to sources close to the company, Zoplar was already operating at a 16% profit margin from its device imports and had projected margins to grow to 35–40%. Despite this positive trajectory, the regulatory shift forced the founders to shut down operations and return investor capital.
