Indian online technology recruitment start-up TalentPad is to reportedly shut up shop this month, due to unviable market conditions.

According to online publication Mint, published by HT Media whose brands include the Hindustan Times, TalentPad founders have decided that after only 18 months in business, the market opportunity is not large enough.

Co-founder Nikhil Vij was quoted as saying technology-focused recruitment companies were struggling in India.

In a letter to clients, also seen by Mint, the firm said: “We failed to figure out a scalable business for a big enough market. One of the things the entire team was passionate about is making a big impact to a wide-ranging audience. We could not figure out a way to achieve that.”

TalentPad was reportedly backed by Indian-focused venture capital firm Helion Venture Partners.

Neither TalentPad nor Helion responded to Recruiter’s requests for information by today’s deadline.

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