Then Voly collapsed in November after also failing to raise additional capital. It launched in July 2021, raised $18 million in a Seed round led by Sequoia Capital India together with Global Founders Capital and Australia-based Artesian Capital in December 2020. The company’s managers said Voly “may the beginning acted insolvent” in their analysis of the company. Voly had a net loss of $13.6 million for the fiscal year ended June 30, 2022. Subscription butcher startup Our Cow acquired the Voly brand and other assets from the managers just before Christmas.

Administrators Hall Chadwick believe creditors, who owe a total of $17.7 million, will receive between 15c and 27c in the $1 following Voly’s liquidation.