Nandan Nilekani-backed startup ShopX shuts down, files for bankruptcy

E-commerce platform ShopX, backed by Infosys Co-founder Nandan Nilekani, has confirmed that it has shut down operations. The startup has filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016. ShopX decided to shut down business after "it became unviable to operate at scale given the low margin profile", a spokesperson for the company told Financial Express.