Indonesian construction tech startup Gravel shuts down
Tech in Asia·2024-12-03 17:00
Indonesian construction tech startup Gravel has ceased operations, according to former employees.
The closure follows layoffs that began in October, reducing staff by 35 to 40%.
The company’s website is no longer accessible, and its app has stopped accepting new users.
In 2023, the company faced internal disputes and financial issues.
Georgi Ferdwindra Putra stepped down as CEO in August under investor pressure. Fredy Yanto then attempted to stabilize the firm but could not secure further financial support.
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