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Uber-rival BluSmart investors propose resolution with $30M backing for its revival

TechCrunch LogoTechCrunch1d ago

Uber-rival BluSmart investors propose resolution with $30M backing for its revival - TechCrunch

Quick Summary:

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 proposal from these existing investors has a catch: its contingent on BluSmart co-founder Anmol Singh Jaggi agreeing to resign.

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.

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Article Details

Author / Journalist: Jagmeet Singh

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-07 @ 18:10:20 (1 days ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 823 words

Reading Time: 5 minutes read

Sentences: 44 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 28476390

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Official Website: techcrunch.com

Update Frequency: 16 posts per day

Year Established: 2005

Headquarters: United States

News Last Updated: 8 hours ago

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Publisher ID: #20

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  • URL: https://surprised.beamstart.com/news/uber-rival-blusmart-investors-propose-174664174224

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