India, May 5 -- Blume Ventures-backed Zoplar shut its operations in February this year, just a month after it raised $3.4 Mn in its Series A funding, sources told Inc42.

The startup is now returning the capital raised in its Series A round to its investors.

Zoplar decided to shutter its operations after the Central Drugs Standard Control Organisation (CDSCO), earlier this year, said that imports of second-hand or refurbished medical devices are not allowed in the country, the sources said. In a letter, the CDSCO asked the customs department to not release such devices from the port of entry, Times of India reported in January.

Zoplar declined to comment on Inc42's queries on the development.

Founded in 2022 by Amit Sah and Umesh Sharm...