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Uber-rival BluSmart investors propose resolution with $30M backing for its revival
A group of investors are considering a plan to inject another $30 million into BluSmart in a bid to revive the Indian cab-hailing startup that abruptly
A group of investors are considering a plan to inject another $30 million into BluSmart in a bid to revive the Indian cab-hailing startup that abruptly halted operations last month, TechCrunch has learned. The proposed investment will be treated in the form of unsecured debt and will be aimed at fixing the startup’s operational liabilities, including pending dues and employee salaries, two sources told TechCrunch. Climate investment fund Eversource Capital, which is backed by Britain’s BP, shared an interest in buying BluSmart in a slump sale last month, as first reported by Indian outlet Inc42.
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