BluSmart Investors Plan $30M Funding Injection to Revive Uber Rival

BluSmart Investors Plan $30M Funding Injection to Revive Uber Rival

BluSmart Faces a Critical Moment: Investors Propose $30M to Revive Operations BluSmart, the Indian electric vehicle (EV) ride-hailing startup that halted operations last month, is on the brink of a possible revival. A group of investors, including BP Ventures and Switzerland-based ResponsAbility, are considering a $30 million funding plan to help reboot the company. The proposed funding would be aimed at addressing BluSmart's operational liabilities, including overdue employee salaries and pending dues. However, this new investment comes with one major condition: BluSmart co-founder Anmol Singh Jaggi must step down from his role within the company.                                  Image Credits:BluSmart This potential investment, which would take the form of unsecured debt, signals a crucial turning point for BluSmart, which has faced significant operational challenges and financial strain. Sources familiar with the situation have confirmed that while Jaggi has verbally agreed to res…