Dubai-based tech startup, DoubleCloud, has announced the shutdown of its operations on its official website, citing misaligned growth ambitions and limited funding as reasons for the decision.

The startup, which traces its origins back to one of Europe’s leading tech firms, Yandex, has been serving over 1,000 customers with teams working in hybrid/remote mode globally. The company was founded with a commitment to open-source technologies and a vision to simplify data infrastructure for businesses.

In a statement, beginning with "Today is a sad day for us," the company said, “We are proud to have helped our clients make their data infrastructure hassle-free and more efficient. We are even more proud to say that we met many brilliant people during our journey and made many good friends. We are grateful for the support and trust you have extended to us throughout, and we hope you enjoyed working with us as much as we did with you. Now, DoubleCloud will not shut down overnight. We will make sure that all our clients have ample time to transition and will provide our full support. Our products are built on widely adopted open-source technologies, which we believe will ensure a smoother transition.”

It also highlighted that operations will phase out over the coming months; however, no new accounts will be created starting October 1st, 2024. Existing customers will be able to access their accounts until March 1st, 2025, to transition to alternative platforms, with maintenance and support continuing until the closure date.

The startup was established in 2021 in the UAE, and despite the region’s government supporting tech startups, it was not able to meet its own or the market’s expectations. In its own words, "the level of service we wanted to provide, our growth ambitions, and the funding we could secure ultimately didn’t align… we’ve seen companies and technologies emerge and disappear, and now, our company’s journey is also coming to an end."

However, it also hinted positivity with— “the end of something always marks a new beginning...”