BluSmart App Goes Offline Amid Financial Turmoil and Allegations
EV Ride-Hailing Startup Faces Service Shutdown and App Crash
BluSmart, the electric vehicle ride-hailing startup, has seen its app go offline and become non-operational on both Android and iOS devices, months after suspending cab services.
- The company is experiencing a severe financial crunch, accompanied by allegations of fund diversion against its cofounders.
- The future of BluSmart remains uncertain as operational challenges mount.
Examining the Cost of Extended Work Hours
Karnataka has proposed extending working hours to 12 per day, while Andhra Pradesh has capped work hours at 10 to drive productivity and economic growth.
- The ongoing debate raises questions: Do longer work hours actually result in increased productivity, or do they risk employee well-being and efficiency?
Meesho Strengthens Board Ahead of IPO
IPO-bound ecommerce platform Meesho has made significant board changes, appointing Mohit Bhatnagar (Peak XV) and Mukul Arora (Elevation Capital) as new members.
- Meanwhile, SoftBank and Prosus Ventures have vacated their board seats.
- These changes come as Meesho prepares for a much-anticipated $800 Mn IPO.
Funding Rounds: GoKwik and Fabheads Secure New Capital
GoKwik has raised $13 Mn in a round led by RTP Global, with participation from Z47, Peak XV Partners, and Think Investments.
- The startup offers checkout tools to ecommerce platforms to improve conversion rates.
Fabheads, a deeptech company specializing in carbon fibre and composite components, has secured $10 Mn in Series A funding led by Accel and backed by Trifecta Capital.
- The company delivers design, prototyping, production, and certification services.
Darwinbox Executes $10 Mn ESOP Buyback
HR tech unicorn Darwinbox has completed its third ESOP buyback program, benefitting 350 employees globally.
- Darwinbox provides a cloud platform to automate HR processes for enterprises.
India’s GPU Mission Gains Momentum
Under the IndiaAI Mission, India has now installed over 17,300 GPUs to build the nation’s AI infrastructure.
- Yotta, NextGen Cloud, and E2E Networks are leading deployments, while Jio Platforms and CtrlS Datacenters are yet to roll out their chips.
Leadership Transition at Mirae’s VC Arm
Ashish Dave, CEO of Mirae Asset Venture Investments India, has stepped down after seven years.
- He will exit in the coming months, having overseen investments in firms like Unacademy, Jupiter, Zomato, and Zolo.
Startup Spotlight: ParvAI Labs Redefines Human-Machine Interaction
ParvAI Labs, founded in 2022, is pioneering AI-powered eye-tracking and vision analytics to enhance efficiency and decision-making in safety-critical environments.
- The Chennai-based startup’s proprietary technology enables accurate monitoring of human attention, fatigue, and engagement, offering actionable insights to sectors like aviation, defence, logistics, and industrial operations.
- Clients such as DRDO, Pfizer, BARC, FedEx, and ISRO are already using ParvAI’s solutions as the company aims to tap into India’s $17 Bn AI market.
