Tikkarch has learned that a group of investors is considering a plan to invest $ 30 million in Blomemart to restore Indian taxi’s precision start, which stopped the operations last month. There is a catch in the proposal of these current investors: it is willing to resign from Bloommart co -founder Anmol Singh Jaggi.
Two sources told the Tech Crunch that the proposed investment would be treated in the form of unsafe loan and the purpose would be to fix the operational liabilities of the startup, including pending liabilities and salaries of employees.
Bloomart investors, including BP Ventures and Switzerland’s responsibility, began to discuss the resolution last week. Upon arrival on Monday, BP ventures and responsibility refused to comment.
Although Jegie has not signed a resignation from Blomemart, sources told Tech Crunch that she was willing to verbally resigned from her board, assurances that they would not face any legal action in the future from Blasmart’s investors.
Jaggie and other co -founder of Blomemart, Punt’s Goyal, did not respond to the messages sent earlier this week.
Last month, Bloismart stopped last month’s operations after the genocal engineering, its core EV Lisher and the company that was divided into a co -founder as its co -founder. The move influenced the riders in search of EV, its investors, and 600 of his employees, who did not pay their salary until at least March.
The Tech Crunch has learned that the pending liabilities of the Grogram -based startup were about 2.5 2.5 billion Indian rupees ($ 30 million), which includes paying employees of Rs 500 to 600 million Indian rupees.
About 8,700 EVs have also been abandoned on the Bloomart Fleet due to the suspension of its service. This can affect the health of batteries and other components on vehicles if the startup does not restart its service soon.
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The suspension has also affected Bloomart drivers, some of which have moved ahead Strike in New Delhi To protest the move. Some of these working drivers may have some relief as EVA-heeling service Eura Cabes, based in Delhi, has recently announced its addition. Bloommart lenders were given 500 cabs leases. Startup is currently trying to add 1,000 EV taxes affiliated with Blossmart and some of its drivers.
Existing Blomeart’s investors do not want startups to lose their branding, including Eura and even other taxi healing companies, including Uber, use their rails on their services.
Sources told Tech Crunch that investors want to resume service in the next three weeks. Nevertheless, there are some challenges in the return of the Blossom. One of them is corporate governance issues, as well as indirectly affect the startups starting in the genus. Indian Corporate Affairs Ministry recently Launched Jennisol and Blomemart’s investigation For this
Jagi’s resignation is not as sure as it appears. The Indian Stock Exchange Regulator, Jagi and his brother, launched an investigation and ordered the resignation of a publicly listed genocide. However, the direction of the regulator does not apply to the Blomemart, which is a private institution.
Climate Investment Fund Eversaus Source Capital, supported by the UK’s BP, has been interested in buying Bloomart last month in sale, such as Reported first Indian Outlet Inc42. The fund proposes to integrate startups with its B2B fleet operator, lithium Urban. However, the Bloomart Board has not agreed to the offer, as it has earlier cost $ 60 million from the price of $ 300 million.
Tikkarch learned last month that lithium -urban is struggling as a company with increasing losses, and most of its vehicles are reaching the end of their lives. The person familiar with the matter said that Sanjay Krishnan, the original founder of Lithium Urban, also abandoned the business. Ever Source Capital and Lithium Urban did not respond to comments requests at this time.
Tikkarnch learned last month that the Indian party Adani Group also expressed interest in buying EV -Cab Healing Startup to use its fleet at its airports. The company had a preliminary conversation with the Blomest Board. It already contains Uber as a fleet companion.
The Advani group did not respond to a comment.
Nevertheless, Bloomart’s investors hope that startups can be achieved to attract investment from strategic, such as Ever source capital, Uber, or Adani, after resuming its operations.