Another transportation startup has run out of gas while larger companies continue refuelling to tap into economies of scale. Tripda — a carpooling startup operating in 13 countries including the U.S. and backed by the Berlin-based incubator Rocket Internet — has announced that it will cease operations on March 4 after facing high operating costs and failing to raise funding to meet them.
There were reports earlier that Tripda would be shutting after being unable to raise a Series B round; now the company has confirmed the closure on its home page.
In it, Tripda notes that it has built out operations in 13 countries — several in South America, plus the U.S., plus India, Pakistan, Singapore and Taiwan — and had matched 1 million travellers to rides.
“And yet, despite…